Pioneer Investments, the asset management group owned by Italy's UniCredit, has named MFS Investment Management's Paul Price as its new head of international institutional business. He joins as the firm adds €91bn ($109bn) in assets following UniCredit's acquisition of Germany's HVB.

Pioneer, which has been building its institutional team, is set to grow its assets under management from €156bn to €247bn following the integration of Germany's HVB Activest and Capital Invest.