The asset management arm of Stockholm-based financial services group Nordea has hired Ignis's former deputy investment chief in a recently created role.

Nordea Asset Management has appointed Mark Lovett as equity chief investment officer. He joins from Ignis Asset Management.

Lovett was most recently head of equities and deputy chief investment officer at Ignis Asset Management. Before that, he was co-chief investment officer for European equities and a member of the European management group responsible for the equity platform at Allianz Global Investors. He brings more than 25 years’ experience in the asset management industry.

The position of equity CIO was created in January when the investments business of Nordea Asset Management was split into four units. Based in Copenhagen, Lovett will replace Christian Hyldahl, head of Nordea Asset Management, who temporarily held the position during the recruitment process.

In his new role, Lovett will be in charge of five equity boutiques, as well as private equity and responsible investments. He will also join the senior executive management team of Nordea Asset Management.

“I am glad that we have been able to recruit Mark, who has extensive experience within equities and the European asset management industry as well as cross-border management experience,” said Hyldahl. 

“With Mark as equity CIO our equity organisation will get more focused top management attention to further develop the single boutiques as well as the cooperation between boutiques, to deliver a sustained strong investment performance.” 

Nordea Asset Management had €191 billion ($212.6 billion) of assets under management as of the end of June.