Newton Investment Management, part of BNY Mellon Investment Management, announced on Wednesday the appointment of former Aviva Investors and Standard Life Investments executive Euan Munro as its CEO.

Munro will join Newton, which manages assets of about £45 billion, on June 23, 2021 and will report to Hanneke Smits, CEO of BNY Mellon Investment Management.

BNY Mellon Investment Management manages about $2 trillion in assets.

“Euan’s accomplished investment career spans three decades,” said Newton.

“Most recently, Euan was CEO of Aviva Investors and a member of the global executive committee for seven years.

“Under Euan’s leadership, Aviva Investors was transformed into a leading UK asset manager with total assets under management growing significantly.

“Prior to this, Euan was head of global multi-asset and fixed interest investing at Standard Life Investments.”

Before Standard Life Investments, Munro worked at Scottish Provident.

Smits said: “Euan is an exceptional leader with a proven track record in the investment industry and we are delighted that he will be joining Newton as its chief executive officer.

“His investment credentials and extensive experience leading one of the UK’s larger asset managers with a presence in the institutional, intermediary and retail markets, are highly relevant to Newton and we look forward to warmly welcoming him soon.”

Munro said: “This is an exciting time to be joining Newton – a global asset manager full of talented people, high quality investment solutions and an incredibly strong heritage in responsible investment.

“I’m looking forward to building upon this strong foundation and continuing to enhance Newton’s investment offering to help clients achieve their goals.”

Andrew Downs will continue as Newton’s interim CEO until Munro joins the company and receives approval from the FCA.

Downs will then resume his role as chief operating officer of Newton.