Ignis Asset Management has recruited Mark Lovett, formerly of Allianz RCM, as chief investment officer for equities.
Lovett joined on October 4 and will be responsible for overseeing a £10bn fund range.
He was chief investment officer for UK and European equities in London at Allianz RCM. He will report to chief investment officer Chris Fellingham, who joined recently from Soros Fund Management.
Lovett says: “My focus will be to ensure that we maintain appropriate products and processes while retaining and attracting the best possible talent to grow our business and achieve superior returns for our clients.”
Senior analyst at Hargreaves Lansdown Meera Patel says Lovett should concentrate his efforts on boosting the group’s internal Ignis funds, following the loss of its Hexam joint venture, which is set to go solo.
She says: “They have got a good Asia manager and a reasonably good small-cap manager. They need to make the most of the talent they have and ensure there is a good incentivisation structure in place to retain the top talent.”