EUROPE – Aviva Investors has appointed Euan Munro as chief executive.
He joins from Standard Life Investments (SLI), where he has served as global head of multi-asset investing and fixed income since 2008.
Munro, who established SLI's Global Absolute Return Strategy, was responsible for managing the assets of Standard Life Assurance Company and SLI's fixed income and multi-asset investment funds.
He said he could see a "clear opportunity" to "unlock" the potential in Aviva Investors, which currently has nearly £274bn (€320bn) assets under management.
"[Its] proven investment capability means it is well placed to meet the growing demands from the institutional market for income with low volatility," he said.
Aviva group chief executive Mark Wilson cited Munro's track record in fixed income, multi-asset and insurance as the key factors in his appointment.
"There is significant scope to improve the profitability of Aviva Investors, a core part of the group," he added. "Euan will play a pivotal role helping Aviva Investors capitalise on its expertise managing Aviva's own funds, become a stronger third-party manager and increase its contribution to the group."
Before joining SLI in 1995, Munro was an investment manager at Scottish Provident.
Pending regulatory approval, he will start in his new position next January, succeeding interim chief executive John Misselbrook.