UK - AXA Investment Managers has hired Paul Griffiths from Investec Asset Management to be UK chief investment officer.

He takes over a post vacated by Roy Gillson at the end of 2002. Gillson’s function was then assumed by global CIO Chris Cheetham. Cheetham left AXA to join HSBC as global CIO in March.

“We are delighted that Paul will be joining AXA IM as UK Chief Investment Officer,” said Robert Kyprianou, head of securities investment management at AXA IM. “His invaluable investment expertise and track record are highly complementary to our existing product skill set in the UK, and his abilities are clearly recognised and commended by consultants.”

Griffiths was head of Investec’s fixed income operation. Investec said that Andrew Farrell, previously head of UK fixed income at Invesco, has now joined the UK fixed income team.

Hendrik du Toit, chief executive of Investec Asset Management said: “This new hire from Invesco further reinforces our position and underlines our ongoing commitment to continue to deliver results for our clients.”