GLOBAL - Mark Burgess is set to replace industry veteran Sarah Arkle as chief investment officer at Threadneedle.

Threadneedle said Burgess would join the company in the first quarter of next year and work closely with Arkle until he fully assumed her responsibilities.

Burgess will join from Legal & General Investment Management, where he was head of equities.

Arkle, who has been in the industry for more than 30 years, will retire next year, becoming Threadneedle's vice-chairman.

Simon Davies, chairman at Threadneedle, said Arkle would work on high-level client relationships and business development and play an "ambassadorial role".

Arkle was one of Threadneedle's founding members in 1994 and appointed CIO in 2000.

During her tenure as chief investment officer, 96% of Threadneedle's funds outperformed their respective benchmarks, while 73% achieved top-quartile performance, the company said.