AssetCo, chaired by former Standard Life Aberdeen joint chief executive Martin Gilbert, has appointed Gary Collins as head of distribution.
Collins joins from Columbia Threadneedle Investments where he was head of distribution, running both the EMEA and Latin American distribution strategy and team.
He joined Columbia Threadneedle in 2006 as head of UK retail/wholesale, having previously worked at Merrill Lynch Investment Management.
Collins said: “Joining AssetCo at such an early stage in its growth story is a fantastic opportunity.
“The structural changes that are occurring, for example in terms of demographics, fee compression and the search for alpha, provide opportunities for agile businesses, such as AssetCo.
“I’m looking forward to working with the team to meet the needs of existing clients and to introduce new investors.”
The appointment follows the announcement earlier this month of AssetCo acquiring Saracen Fund Managers for a sum of £2.75m. The acquisition is expected to complete by the end of September 2021.
The purchase of the Edinburgh-based fund manager will consist of 166,904 new ordinary shares and £664,774 in cash, to be paid on completion.
Peter McKellar, deputy chairman and chief executive officer of AssetCo, said: “Gary is a great addition to the AssetCo team and he will play a key role in developing the overall business. He brings a wealth of experience and expertise, with a track record of working closely with clients and delivering results.
“One immediate focus will be to help develop Saracen Fund Managers’ distribution strategy, so as to grow its client base and, over time, expand its product range.”
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