Standard Life Investments' Euan Munro has joined Aviva Investors as CEO.
Munro (pictured) was one of the founding members of SLI's Global Absolute Return Strategies (GARS) team, and as head of its global multi-asset team has been instrumental in its success and growth to a multi-billion pound franchise.
Munro will take up his new role in January 2014, reporting to Mark Wilson,group chief executive officer. He succeeds interim CEO John Misselbrook. The appointment is subject to regulatory approval.
Wilson said: "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.
"There is significant scope to improve the profitability of Aviva Investors, a core part of the group. Euan will play a pivotal role helping Aviva Investors capitalise on its expertise managing Aviva's own funds, become a stronger third party manager and increase its contribution to the group."
Munro added: "I am joining Aviva because I see a clear opportunity to unlock the potential of Aviva Investors, a well established business with impressive scale and significant investment talent. Aviva Investors' proven investment capability means that it is well placed to meet the growing demands from the institutional market for income with low volatility."
Munro joined SLI in 1995 from Scottish Provident where he was an investment manager.
SLI suffered another blow late last year when three members of the GARS team, which has £18bn in assets under management, left to join Invesco Perpetual.
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