Tom Caddick was named chief investment officer at Santander Asset Management in London, a spokeswoman said.
The position is new, but David Stewart was in the role until 2015, the spokeswoman said. Mr. Caddick was previously the head of global multiasset solutions at Santander Asset Management, which has €180.7 billion ($217.3 billion) in assets under management.
"There will be no replacement at this stage," the spokeswoman said.
Mr. Caddick joined Santander in 2011.