GLOBAL - Former Henderson Group chief Roger Yates is to take over as the head of Pioneer Investments, following Frigerio's departure in January.

A statement from the asset manager's parent group, Unicredit, said it had the Group Nomination Committee had "provided its positive recommendation" to its board of directors and backed Yates to join the company.

The former Henderson head announced in August 2008 he was leaving the company on the same day that the investment house revealed it would move its domicile to Ireland, in a bid to cut its UK tax liabilities.

Yates will join Pioneer in mid January - the date at which Frigerio is expected to leave the firm to pursue new business opportunities. (See earlier IPE story: Frigerio to step down as head of Pioneer)

Elsewhere, BlackRock's Andrew Dyson is relocating to San Francisco in the new year, following the completion of the BlackRock/BGI merger, to become head of global institutional business at BlackRock.

Mike O'Brien, who was managing director for European institutional business at BGI prior to the merger, will take over as head of Blackrock's EMEA institutional business.

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