Standard Life’s Gars fund chief Euan Munro heads to Aviva

Standard Life Investments’ (SLI) global head of multi-asset Euan Munro, who oversees the team running the group’s £18bn Gars fund, is joining Aviva Investors as chief executive.

Mr Munro was one of the key architects of the group’s ultra-popular Global Absolute Return Strategies (Gars) product.

The move is a fresh blow for SLI, coming after Invesco Perpetual hired three members of the Gars team, David Millar, Dave Jubb and Richard Batty, in September 2012.

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SLI said it was promoting Guy Stern to the role of head of multi-asset & macro investing as Mr Munro exits.

John Misselbrook had been appointed as interim CEO at Aviva Investors last month, replacing Paul Abberley, who had been made interim CEO when Alain Dromer exited in a restructure in April 2012.