Baring Asset Management has chosen Michael Hughes, head of UK and European investment management, as its new chief investment officer. Hughes, who has 27 years' investment experience, only joined BAM in April 1998 from BZW, where he was group economic adviser and frequently appeared as a media financial pundit.

At BAM he became best known for his asset allocation and strategic benchmarking expertise. With little direct stock selection experience, however, Hughes' chief investment officer role will take a strong strategic bias. He also plans to soon hire two senior names from outside BAM for support, as well as working closely with Don Walker, director of BAM's investment process, and James Williams, head of strategy.