Top executive out at Kames Capital

Stephen Jones was appointed chief investment officer at Kames Capital, the Edinburgh-based money management unit of Dutch insurer Aegon.

Mr. Jones, who also is co-head of fixed income, is replacing Andrew Fleming, who also is stepping down as CEO, according to an e-mail from the firm. Mr. Fleming has held both roles for eight years. Sarah Russell, CEO of Hague-based Aegon Asset Management, will act as interim head of Kames until a replacement is found.

Kames' assets under management rose 6.1% last year to 52.1 billion ($78.7 billion), including 28.4 billion in bonds.

In November, Bill Dinning quit Kames as head of investment strategy to become investment strategist for the 20 billion Coal Pension Trustees Services Ltd., Sheffield, England. Kames is still in the process of replacing him, according to spokesman Adrian Cammidge. Ian Cooke, head of U.S. equities, left in December and was replaced by Marcus Chandler.