Thomas quits LV= to develop Threadneedle product range

Threadneedle has appointed former LV= Asset Management head of product development Julian Thomas as director of product development.

Thomas replaces ex-product development director Damian Barry, who was appointed as multi-manager fund manager for the unfettered range of funds earlier this month.

Former IMS chief investment officer Giles Gilbertson joined Threadneedle on November 1 as head of multi-manager to run the range.

In August, LVAM finalised the deal to outsource the management of the firm’s £8.5bn of assets and transfer the existing external funds to Threadneedle. Earlier this month, Threadneedle confirmed it will not be taking on any of the LVAM managers.

The LVAM retail Oeics have been rebranded under the Threadneedle banner but there has been no change to the fees and there are no immediate changes planned for the funds’ investment objectives.

Hargreaves Lansdown investment manager Ben Yearsley says: “Hiring Julian is a good move for Threadneedle from the perspective of maintaining good relations with LV=.”