Henderson Global Investors has hired Santander senior fund manager Stephen Payne as co-manager of the £2.1bn Cautious Managed fund.
Payne will report to Henderson director of UK equities and lead fund manager Chris Burvill. He will manage the fund alongside fund managers John Pattullo and Jenna Barnard.
At Santander, where he spent nine years, Payne was responsible for the enhanced, dividend and equity income funds.
Following his departure, current senior fund manager of UK equities Graham Ashby will take over management of the funds.
Burvill says: “Stephen and I have known each other for a long time. He brings with him deep analytical experience, along with an excellent understanding of macroeconomic issues and fixed interest markets.
“Stephen’s ability to deliver attractive returns will be invaluable as we focus on growing our assets under management in this key area of the business for Henderson.”
Payne adds: “To work alongside Chris and help grow what is already a key franchise for Henderson will be an exciting opportunity. I look forward to working with both the investment and distribution teams in the future.”