Towers Watson has promoted Chris Mansi, currently the consultancy’s European delegated CIO, to a global role in charge of all $60bn (€44.2bn) of delegated mandates.

Mansi, who has been with the firm for 15 years, has been promoted alongside Craig Baker.

Baker was previously global head of research at Towers Watson’s investment division, and has been named global CIO.

Chris Ford, global head of investments, said the changes were about providing a competitive advantage to clients.

“There are significant advantages to be gained by establishing a level playing field between alpha, smart beta and bulk beta investments, as well as by treating risk management as a source of value creation rather than only considering return generation.”

Ford added: “In an increasing number of jurisdictions, our clients are asking us to augment their internal resources by taking on the responsibility for implementing part of or their entire portfolio through a delegated or outsourced CIO service.”

Mansi was named European delegated CIO in 2011 as part of a move to establish a separate team for Towers Watson’s delegated business.

It has since gone on to win clients including the Lafarge UK Pension Plan and the scheme for car manufacturer Jaguar.