Royal London Asset Management (RLAM) announced the appointment of two fund managers and three analysts to its equity team as it continues to build “high conviction investment capabilities” across the business. 

Paul Schofield joins RLAM on September 2 from Goldman Sachs Asset Management, where he held key leadership roles, latterly as co-head of global equity.

Schofield’s career spans two decades, including 23 years at Allianz Global Investors, where he was a director and senior portfolio manager across global strategies.  

Max Newman joins later this month from wealth manager Atomos, with a decade of experience covering UK and global equities.  

RLAM has also appointed three analysts who will work across the global equities team. 

Royal London Asset Management manages £169 billion of assets. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.

Parent firm Royal London describes itself as “the largest mutual life, pensions and investment company in the UK.”  The group employs roughly 1,000 in Scotland and includes the former Scottish Life and Scottish Provident businesses.

RLAM Chief Investment Officer Piers Hillier maintains responsibility for Royal London Asset Management’s Global Equity capabilities. 

Schofield becomes lead manager on the Royal London Global Diversified Equity fund, supported by Matt Burgess and Finn Provan, while Max Newman will support lead manager Richard Marwood on the Royal London UK Equity Income and UK Dividend Growth funds.

Hillier said: “As part of our ongoing commitment to offering first class investment capabilities, we’re delighted to appoint these significant hires and grow our existing, talented team. 

“Their many years of expertise in equity and people management, coupled with their alignment to the existing Royal London Asset Management investment process and distinct culture, make them an excellent fit.  

“Royal London Asset Management’s strategy remains focused on growing our investment capabilities while also delivering good long-term outcomes for clients and providing outstanding customer service.” 

Schofield said: “I’ve long-admired Royal London Asset Management’s clear strategy, investment performance and strong brand, alongside its focus on delivering first class capabilities to deliver good outcomes for clients. I look forward to working with the team, using my experience of running both teams and funds to complement their investment process.”