Jonathan Platt, head of fixed interest at Royal London Asset Management, has been promoted to its board in the first of many changes expected after the resignation of chief executive Chris Phillips.

RLAM said that Platt's promotion was based on the value and achievements of his team, which has succeeded in winning the bulk of the firm's new business recently. Platt has been at the firm since 1985 and is responsible for the fixed interest team that runs both institutional and retail money.