EUROPE – Liesbeth Rutgers, fixed income chief at private banking outfit Theodoor Gilissen Bankiers, has been appointed institutional business co-director at F&C Netherlands.

She will work alongside Ronald Waals in a newly created position. According to F&C Netherlands managing director and country head Henk Breukink, there was a need to strengthen the group on a managerial level amid an increasingly complex Dutch clientele.

Rutgers, due to start in mid-August, was at Theodoor Gilissen Bankiers for 10 years. She has some 20 years of experience in the Dutch asset management market.

Rutgers is one of two high-level appointments announced by F&C Netherlands.

Peter Hans Budde, institutional sales director at Kempen Capital Management, has been appointed client director at F&C. He is due to start on September 1.

Budde, 51, succeeds André van den Heuvel, who left in September 2005 to head institutional sales and client service in the Netherlands for Merrill Lynch Investment Managers.

According to Breukink, Van den Heuvel’s position has been filled with a “very experienced, stronger” replacement. Budde has more than 25 years of experience in the Dutch institutional asset management market.

Commenting on both appointments, Breukink said, “This offers us the opportunity to optimize our service to the Dutch institutional market and to offer tailor made solutions to the complicated issues the Dutch pension funds are facing today.”

In other news, Paul Williams, director of European marketing at F&C Management, has quit to join Fidelity International as business development director in its UK DB business.

Williams joins Fidelity after 12 years at F&C. As director of European marketing, he was responsible for international new business and client service activity.

He has also previously worked at Pictet and the investment banking and securities arm of Midland Bank, Midland Montagu.

According to a spokesperson at Fidelity, “Paul's is a new position to strengthen our drive to grow assets in the UK DB market.”

She added that Williams, who has joined already, has a specific focus on both UK defined benefit pension schemes and to work on new opportunities for institutional investment in the UK with multi-managers and new pools of assets.

He is not in charge of a team, and reports to UK business development head Mark Miller.

Commenting on Paul’s appointment, Miller said, “Paul’s experience and knowledge will be important in helping us further develop our relationships with prospective clients and their consultants over the next few years.”