One of the most senior figures in European investment consulting has left Towers Watson to take up a newly-created role in the fiduciary division at Goldman Sachs Asset Management, as competition intensifies between fund managers and consultants in the client advisory sector.

Paul Trickett, head of Towers Watson's investment practise across Europe, Africa and the Middle East, has been appointed to lead the GSAM's Portfolio Solutions Group in the same region, the asset manager confirmed today. Carl Hess has replaced Trickett on an interim basis, according to Towers Watson