Neuberger Berman has hired Joe McDonnell for the newly created role of head of portfolio solutions (EMEA) amid increasing demand for "customised solutions" in the institutional space.
McDonnell, who joins after ten years in a similar role at Morgan Stanley Investment Management, will be responsible for designing and overseeing multi-asset mandates and engaging with the firm's strategic partners.
He will be part of the quantitative and multi-asset class investments team and report to co-heads Erik Knutzen and Doug Kramer.
The group said McDonnell, who prior to Morgan Stanley spent ten years in corporate defined pension plan management, will leverage the firm's platform to identify customised quantitative solutions, and to help construct, oversee and implement portfolios to meet specific client objectives.
Head of EMEA and Latin America at Neuberger Berman Dik van Lomwel said: "In light of the more dynamic market environment, we see an increased need for more customised solutions for our institutional clients.
"We have been building our capabilities in this area and Joe's presence will enhance this dialogue."
McDonnell added: "The investment platform's breadth, depth and level of innovation, combined with a strong corporate culture and willingness to explore opportunities to partner with clients make me excited to join Neuberger Berman."