David Cumming has joined Aviva Investors as chief investment officer for equities nine months after stepping down as head of equities at Standard Life Investments.
Cumming was one of the highest-profile departures in the immediate aftermath of the Aberdeen/Standard Life merger being announced in March of this year. The merger was not directly stated as the reason for his exit.
His new position, which he assumes on January 2, will reunite him with former SLI colleague Euan Munro, who is chief executive officer of Aviva Investors.
This will see Cumming oversee all the company’s equity teams globally, which manage £69 billion (€78.2 billion) in client money.
Cumming was head of equities at SLI between 2010 and 2017, having joined the group in 1998. He had also served as head of UK equities during this timeframe.
Commenting on the appointment, Munro said: ‘[David’s] arrival is a signal of our intent to invest in our equities business, which will strengthen our range of investment solutions for Aviva and external clients.’
Following the appointment of Cumming, Chris Murphy, who had served as global head of equities since January 2015, will continue to manage the Aviva Investors UK Equity, the Aviva Investors UK Equity Income and Aviva Investors Distribution funds.