Lloyds Banking Group (LBG) — owner of Scottish Widows, Bank of Scotland and Halifax — has announced the appointment of Peter Fitzgerald of Aviva Investors as its new Chief Investment Officer, succeeding Kevin Doran, who will leave the group early next year.

“In his new role, Peter will oversee investment strategy and fund management across Scottish Widows and the recently acquired Schroders Personal Wealth business, supporting the group’s ambition to deliver market-leading solutions for customers,” said LBG.

“Peter joins from Aviva Investors, where he served as Chief Investment Officer, Multi-Asset & Macro, leading a global team managing over £100 billion in assets.

“With more than 25 years of expertise in multi-asset investing, macro strategy, and portfolio management, he has held senior roles at BNP Paribas Wealth Management and Insinger de Beaufort.”

Scottish Widows has £238 billion of assets under administration and more than six million customers.

Chirantan Barua, CEO, Scottish Widows and CEO, Insurance, Pensions & Investments, Lloyds Banking Group, said: “Peter’s appointment marks an exciting new chapter for Lloyds Banking Group.

“His deep expertise in multi-asset investing and proven leadership will help us deliver even greater value for our customers across Scottish Widows and Schroders Personal Wealth.”

Fitzgerald said: “I’m delighted to join Lloyds Banking Group at such a pivotal time. I look forward to building on the strong foundations laid by Kevin and driving innovation in investment solutions for our customers.”