Santander Asset Management has confirmed Tom Caddick will become head of multi-manager, taking over from Keith Speck.
Toby Vaughan will join its multi-manager team as a fund manager.
Santander says Speck is leaving the company and cannot provide any more details at this time.
Caddick and Vaughan will join from LV= Asset Management, following the completion of their current notice periods.
As head of multi-manager and fund selection at LV= Asset Management, Caddick established the multi-manager department and helped spearhead the group’s move into retail asset management.
Vaughan was principal fund manager for multi-manager and fund selection. Both managers previously also worked together at F&C Asset Management.
John Bearman, the chief investment officer at Santander, says the group’s multi-manager is an area of real growth for the business.