Old Mutual has poached a group of leading fund managers from Hill Samuel.
Among the new recruits is Hill Samuel star fund manager Ashton Bradbury, who was head of UK retail funds.
The new appointments will form the UK-based backbone of Old Mutual's newly formed investment arm, Gerrard Asset Management.
The new firm has been created through the merger of Old Mutual's private-client businesses Capel Cure Sharp and Greig Middleton.
The Gerrard team will be led by Hill Samuel's former chief investment officer John Ainsworth.
Bradbury is expected to take control of UK retail fund management. Other appointments include head of global strategy Peter Baxter, head of continental European equities Adrian Farthing and head of Far East and emerging markets Fiona Hathorn. Gerrard has also recruited Hill Samuel retail marketing director Ian Pascall.
The appointments are likely to mark the end of an exodus of employees from Hill Samuel, which was sparked by its merger with Scottish Widows' investment arm.
The newly formed Scottish Widows Investment Partnership, which starts this week, was unable to hold on to most Hill Samuel staff after it announced its intention to be based in Edinburgh.