LVAM's head of multi-manager Tom Caddick is leaving the firm to join Santander Asset Management.
His eight-strong fund range, which includes the LV= Balanced Managed and Diversified Income funds, as well as five Managed Portfolios, has been taken over by Simon Brooks, a principal fund manager.
LVAM says the funds are run using a team-based approach, and this established process will remain unchanged. Brooks will run the funds as an interim measure until the group recruiting a replacement for Caddick.
In 2007, Caddick joined LVAM from F&C, where he had run the F&C Managed Growth and Managed Balanced portfolios. In his new role he will work alongside Keith Speck, Santander's head of multi-manager, who is sole named manager on 13 portfolios in the range.
Brooks joined LVAM from Skandia in 2008, where he was deputy CIO of investment management and head of portfolio administration.
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