LVAM's Caddick replaces Speck at Santander

LVAM's head of multi-manager Tom Caddick is taking on the role of head of multi-manager at Santander Asset Management as Keith Speck departs.

Caddick's colleague at LVAM, Toby Vaughan, is also joining the firm as a fund manager.

Caddick's eight-strong fund range, which includes the LV= Balanced Managed and Diversified Income funds, as well as five Managed Portfolios, has been taken over by Simon Brooks, a principal fund manager.

LVAM says the funds are run using a team-based approach, and this established process will remain unchanged. Brooks will run the funds as an interim measure until the group recruiting a replacement for Caddick.

In 2007, Caddick joined LVAM from F&C, where he had run the F&C Managed Growth and Managed Balanced portfolios.

Brooks joined LVAM from Skandia in 2008, where he was deputy CIO of investment management and head of portfolio administration.