Norwich Union UK income opportunities manager Ian Lancaster has quit to join Bahrain-based Gulf Finance House Asset Management.
Lancaster, who brought the fund to Norwich Union with him from Moneyguru in May 2006, will join forces with former Skandia chief investment officer Alan Durrant and take on the role of international equities director.
He will help oversee Gulf Finance House’s drive into the Islamic asset management business, with the group looking to launch a series of Sharia-compliant funds in equities, property and alternative assets across the Middle East, Asia and western Europe.
Durrant, who heads the firm as senior executive director, says Lancaster has a strong track record and further hires are in the pipeline.
Dave Roberts will take over the NU fund.