MONEY MANAGEMENT

Hermes Investment Management hires research director

Orla Murphy was named research director at Hermes Investment Management, said a spokeswoman.

The position is new. Ms. Murphy oversees procuring equity and credit research from brokers and independent research providers, and is responsible for managing the research budget, transaction cost analysis and other Markets in Financial Instruments Directive II- related issues.

She reports to Eoin Murray, head of investment.

“With extensive front office management experience and a strong track record of following market developments in the financial services industry, (Ms. Murphy) is ideally placed to implement Hermes’ new research procurement program,” Mr. Murray said in a news release.

Ms. Murphy joined from VTB Capital, where she was equities business manager. A spokesman was not available to comment about a replacement by press time.

Hermes has £30.8 billion ($39.5 billion) in assets under management.