UK – David Brennan has been appointed chairman and chief executive of London-based Baring Asset Management (BAM) with effect from July. He will replace John Bolsover who is retiring after 27 years with the firm.

Brennan is currently deputy chairman and chief executive of BAM’s investment management group. He has been with BAM for 14 years.

He will be replaced as chief executive of the investment management group by Peter Wolton, who joins from Schroders, where he was head of the retail business.

Bolsover says he has been planning his retirement for some time and has been working closely with Brennan to ensure a smooth transition.

BAM, part of Dutch financial services group ING, has £24bn (€39.2bn) under management.