GLOBAL - Mercer, BDO Investment Management, AIFA, SYZ Asset Management, Hearthstone Investments, TwoFour

Mercer - Mandy Turner has joined as a senior consultant in Mercer’s investment consulting business, based in Bristol. Before joining Mercer, Turner spent 15 years with Aon Hewitt, where she worked as a scheme actuary and pensions consultant. Before then, she worked for Noble Lowndes as a scheme actuary. She has more than 25 years’ experience of advising scheme trustees and sponsors.

BDO Investment Management - David Pitman has replaced Richard Spilg as chief executive at BDO IM after Oakley Capital Private Equity acquired a majority stake in the business. Oakley bought 84.4% of BDO IM for approximately £14m, leaving BDO with 15.6% of the company. Before joining BDO, Pitman served as chief executive at Close Wealth Management. Chief financial officer Helen Roberts is also set to leave early next year, being replaced by UBS GAM’s former deputy chief financial officer Manoj Khosla.

AIFA - Stephen Gay is set to join the Association of Independent Financial Advisers (AIFA) as its new director general on 1 December. Gay will also be director general of the Association of Mortgage Intermediaries and the Association of Finance Brokers. He was appointed by AIFA in September and is currently working an agreed notice period with Aviva.

SYZ Asset Management - Marc Clapasson has joined the institutional management division as head of business development. Before joining SYZ, Clapasson was in charge of product and client development in Geneva with Millennium Global, a London-based alternative investment specialist. Before then, he managed the business development and strategy unit of Prime Capital in Frankfurt. He began his career in 1994 with UBS, where he held several positions in Zurich and London.

Hearthstone Investments - Mark Forman has joined the company as sales and distribution director to support the upcoming launch of the Hearthstone UK Residential Property fund. Forman was most recently sales and development director at Legal & General Investments, and before then he held several senior posts with the insurer in various areas of the business. The UK Residential Property fund will be launched in 2011.

TwoFour - The global FX and treasury cash management specialist has expanded its EMEA and Americas teams with the appointments of Allan Spalding and Erica Fidel. Spalding joins the London sales support team, while Fidel will manage global marketing and communications out of the US headquarters. Spalding has more than 20 years’ experience in investment banking and treasury - most recently at SWIFT, where he was responsible for all treasury-related business development for the UK. Before then, he spent several years at the Royal Bank of Canada.