Henderson Global Investors has replaced its head of emerging markets with former First State manager Glen Finegan.
Finegan was previously co-manager on First State's £750m Global Emerging Markets and £30m Worldwide Equity funds, prior to taking a sabbatical in 2013. First State later confirmed he had left the business.
He will be responsible for managing Henderson's £1bn global emerging markets equities franchise based in the UK, reporting to head of equities Graham Kitchen.
Director of emerging market equities Chris Palmer will leave the firm following a wider review of the EM business.
The appointment of Finegan follows Kitchen's promise to revamp what he described as a "lacklustre" emerging markets offering.
Speaking to Investment Week last month, he said there is potential to develop more offerings in future: “It is really about adding further resources to the team, improving our investment performance, and then launching new products."
Kitchen (pictured) said today: "Glen's disciplined investment process has delivered impressive returns for investors. His strong understanding of the sector will no doubt benefit our clients across our key markets.
"Also, his proven ability to help raise assets will be invaluable as we focus on growing our assets under management globally in this important area."
