Toby Nangle was named head of multiasset at Threadneedle Investments, according to spokeswoman Ella Tekdag.
It is a new position. Based in London, Mr. Nangle will report to Mark Burgess, Threadneedle chief investment officer. Mr. Nangle also will work alongside Alex Lyle, head of managed funds, on product design. He’ll assume the new role in January 2012.
Mr. Nangle is director of both the multiasset and fixed-income teams at Baring Asset Management and will be leaving later this year. A replacement has not been named, according to an e-mailed statement from Baring spokesman Steve Ainger. “We are further planning to expand the team with the recruitment of new asset allocation specialists in London and Boston,” Mr. Ainger said in the statement.
Threadneedle has about £66.6 billion ($107.5 billion) in assets under management, of which about £23 billion is managed in multiasset strategies.