UK – Pensions management company, Hermes, has appointed Nick Mustoe as chief investment officer (CIO) with effect from January 1, 2002.

Mustoe replaces current CIO, Tony Watson, who will take up his new position as chief executive officer (CEO) at the same time.

Mustoe joins from Foreign & Colonial where he has been head of developed market equities since July last year, managing 40 people covering the UK, US, Japan, Europe and global desks.

Says Watson: “He Mustoe understands the investment management industry and will bring to us very considerable experience in investment and staff management.”