Standard Life Investments global head of multi-asset investing and fixed income Euan Munro is to join Aviva Investors as chief executive officer.
Munro will take up the role in January 2014, succeeding John Misselbrook, interim CEO of Aviva Investors and will report to the Group’s chief executive officer Mark Wilson
During his time at Standard Life, Munro was responsible for the management of the assets of Standard Life Assurance Company and of Standard Life Investments’ fixed income and multi-asset investment funds. He also established and developed Standard Life Investments’ flagship fund, Global Absolute Return Strategy (GARS), which presently has some £18bn in assets under management in retail money alone.
Commenting on his appointment, Wilson says: “This is an important appointment for Aviva. Euan’s track record in fixed income and multi-asset management, and his experience in an insurance environment, made him the outstanding candidate to lead Aviva Investors.”
At SLI, Guy Stern takes over from Munro as its head of multi-asset and macro investing. Stern has been leading the group’s day-to-day management of its multi-asset investments since 2008, when he joined from Credit Suisse Asset Management.
SLI suffered another blow last year when three members of its GARS team, including David Millar, Dave Jubb and Richard Batty moved to Invesco Perpertual.