Cofunds managing director of operational services Stephen Mohan is joining Allfunds to head its UK platform.
Money Marketing revealed yesterday Mohan has quit the L&G-owned platform after more than seven years.
Allfunds currently has around £80bn assets under administration on platforms across 26 European countries.
Allfunds has around £10bn AUA in the UK on behalf of 20 institutional clients.
The firm says it is looking to double these assets over the next two years.
Mohan will join Allfunds in October once Cofunds has found a suitable replacement.
At Allfunds, Mohan will report into chief commercial officer Gianluca Renzini.
Allfunds Bank chief executive Juan Alcaraz says: “The recruitment of Stephen reflects our commitment to the UK market and the reinforcement of the platform with one of the most relevant managers in the UK platform space.
“His experience will boost our operations in the UK and will improve our service delivery as we move into our next phase of growth. We believe our UK&I business should be one of the main drivers of growth for Allfunds Bank going forward.”