EUROPE/US – US-based fund management group, Dimensional Fund Advisors, has appointed former Schroders’ chief executive, David Salisbury, as chief executive of its London-based European operations. Salisbury left Schroders last August, after having been with the company since 1974.

As part of his appointment by Dimensional, Salisbury is expected to take a substantial equity stake in Dimensional Fund Advisors, the group’s European subsidiary.

Dimensional, which manages $35bn (€40bn) of institutional and private assets, says its objective in Europe is to provide European investors with an alternative to both the traditional active and passive fund management strategies that currently dominate the market. It says it does this by looking at stock market behaviour rather than researching individual stocks.

Dimensional will initially focus its attention on institutional investors in Europe.