Allison will join F&C in December from Sarasin Investment Management where he has been managing US portfolios and contributing to global equity funds.
The hire will bring the strength of the F&C US large cap team, headed up by Rupert Della-Porta, to five people.
Allison is an economics graduate of the University of Birmingham and a chartered financial analyst with several years of fund management experience.
Della-Porta says: “We are delighted to have recruited Paul. Over the last year we made some important developments in the team including the implementation of a disciplined investment process that incorporates quantitative stock screening alongside active portfolio management. It is pleasing to see that performance continues to improve.”