EUROPE – Pictet Asset Management has hired Ann Steele from Gartmore as senior investment manager and head of European equity portfolio construction.

Steel was formerly a senior investment manager at Gartmore, where she was responsible for the management of European equity portfolios. Pictet said Steele would work with Stephen Burrows, Fabio Paolini, Alison Brown and Jane Phipps.

Pictet Asset Management chief executive Renaud de Planta said: “Ann's proven skills will provide significant benefits to our European equity portfolio construction and will enable us to further leverage the work carried out by the Investment research group within Pictet."

PAM also hired Christel Rendu de Lint from Morgan Stanley to be a fund manager on the fixed income team. PAM, the institutional asset management arm of Swiss private bank Pictet et Cie., manages more than 23 billion dollars in assets.