F&C Asset Management has appointed an internal candidate to replace chief executive Edward Bramson, who Financial News reported last week will relinquish day-to-day management of the UK investment firm at next year's AGM.

Richard Wilson, head of investments and institutional business at F&C, will take the reins of the business in January, according to a statement today. Wilson joined F&C in 2004 from Gartmore, where he was head of international equities.