Phil Reid, HSBC Global Asset Management’s UK distribution head, is to join Royal London Asset Management (RLAM) as head of wholesale.
Mr Reid, who is expected to take up the role around mid-March, will look to expand distribution beyond clients including wealth managers and multi-managers, with a focus on ”broadening into the advisory space”.
His appointment comes after RLAM’s former head of wholesale Ian Goulsbra left last year to join Canada Life Investments.
Rob Williams, RLAM’s head of distribution, told Investment Adviser: “We will be expanding the size of the team and broadening out the types of client in the wholesale space.”
Mr Williams said RLAM would be looking to launch a number of new funds this year, including additional absolute return fixed income vehicles.
The company continues its plans to launch a multi-asset proposition for Trevor Greetham, though the date for this remains unconfirmed.
Andy Clark, chief executive of HSBC Global Asset Management, said: “Phil Reid decided to leave the firm and pursue other opportunities. We wish him all the best and will announce his replacement shortly.”