UK - Innes McKeand, the former head of investments at Nestlé UK Pension Trust, is to join AEGON Asset Management in the new role of head of equities from November, the firm announced today.

Reporting to chief investment officer and managing director Andrew Fleming, McKeand will lead the equity team, managing and supporting the fund managers on each of the regional equity desks.

"He will be instrumental in the continuing development of AEGON's equity capability," the firm said.

McKeand joins from Allied Irish Bank (AIB), where he is chief investment officer.

Previously he was head of investments at Nestle UK's Pension Trust and also he spent 14 years with Scottish Life Assurance Company in a number of senior investment positions.

Fleming commented: "He will be pivotal in ensuring we can replicate the improving performance of our UK equity proposition across all of our equity investments."

The firm with about £38bn assets under management said it seeks to further expand its investment team.