Cazenove Fund Management has recruited Andrew Ross, chief executive of HSBC Asset Management in Europe, to head its business.

The UK investment subsidary of Cazenove, which is in the process of transforming itself from a partnership into a corporate entity by listing on the London Stock Exchange, has also lured Robin Minter-Kemp, managing director at HSBC to lead its fund distribution. Cazenove has £12bn (€19.6bn) in assets under management, the bulk of which comes from private clients. Roughly £3.4bn of assets is from charities, £2.7bn from pension funds, and £1bn from other institutional clients.