Jupiter Fund Management PLC (LSE:JUP) shares swung into a higher orbit after poaching Piers Hillier from Royal London to be its new chief investment officer.
Hillier, who will join next February, has been Royal London Asset Management CIO since 2015 and before that was head of international equities at Kames Capital and CIO at LV= Asset Management.
Jupiter said that as well as overseeing the group's investment capabilities, he is expected to "lead the development of new investment propositions, attract industry-leading talent and... further refine Jupiter’s investment processes as part of the strategic focus to broaden the group’s appeal to a wider range of clients".
The appointment follows the FTSE 250 group streamlining its range of strategies over the past two years, including hiring several new managers, and acquiring Origin Asset Management and CCLA Investment Management.
Hillier's appointment will result in its current head of equities and head of fixed income leaving the company.
CEO Matthew Beesley said the appointment "fits our strategy of seeking to attract the very best talent in active investment management" and will help accelerate the company's evolution.
The shares jumped 12% to 139.8p on Thursday morning, a day after the appointment, not far from recent two-year highs.