Tim Gardener, one of the best-known names in UK investment consulting, is leaving Mercer Investment Consulting to join Axa Investment Management, two years after handing over global leadership to Andrew Kirton to concentrate on servicing his clients.

Kirton said this morning that Gardener decided the time was right for a fresh challenge. He has been with Mercer - and Duncan C.Fraser, a company Mercer bought, for 33 years. "Coincidentally, an opportunity has arisen at Axa IM that will allow him to put his extensive global experience of institutional business to good use."