Ignis Puts Ex-RBS Man In Charge Of Funds Of Funds

Dec 2 2010 | 6:55pm ET

Ignis Asset Management has tapped a former Royal Bank of Scotland Group executive to lead its newly-combined fund of hedge funds, fund of real estate funds, fund of private equity funds and retail mutli-manager businesses.

Michiel Timmerman was named managing director and chief investment officer of Ignis Advisers, which will oversee £2.4 billion.

"I believe that while Ignis Advisers' current products remain the core of the business, current markets present opportunities to add value to clients by introducing new, specialist products, as well as providing a multi-asset alternatives solution which uses our expertise across hedge funds, private equity, real-estate and long-only," Timmerman said.

Timmerman was most recently chief investment officer of funds of funds at Aberdeen Asset Managements. He joined that firm in January after Aberdeen acquired RBS's fund of funds business, and left in October.

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