UK - Insight Investment says it has hired the former head of global equity strategy at Citigroup's Smith Barney, Matthew Merritt, as head of strategy, a new role.

Merritt, 37, joins on September 1 and will report to chief investment officer Abdallah Nauphal. Prior to joining Citigroup in 2000 he was managing director, chief investment strategist at ING Barings.

Merritt will lead an existing team of three focusing on overall strategic and tactical asset allocation policy as well as advising institutional clients on asset allocation.

"Asset allocation plays a key role in delivering the returns expected by our clients," Nauphal said. "His expertise will also be important as we plan the future introduction of absolute return strategies to complement our increasingly popular liability driven investment strategies."

The firm said Merritt is keen to use "sell-side" skills and experience on the "buy side". Insight has 72.4 billion pounds in assets under management.