Dresdner RCM has appointed former Fleming Asset Management fund manager Neil Dwane as director and head of its UK equities team, the position vacated last August by Stuart Fowler.

Consultants see Dwane's appointment as good news for Dresdener, but something of a risk. His credentials as a fund manager are good, but his ability to lead a team is unproven. He was a member of Fleming's specialist team, which Peter Seabrook headed until he stormed out to join SG Asset Management in 1997.