Principal Investment Management, a UK private banking and unit trust boutique, has appointed Tim Cockerill as a senior investment manager on the firm's growing managed funds team.

Cockerill will be based in Principal's Bath office and be responsible for managing clients' portfolios, investment research and helping to develop the managed fund business. He previously ran his own consultancy practice. Charles Brand, the veteran global equities manager who left SLC Asset Management to become head of managed funds at Principal in December, said: "Managed fund portfolios are a rapidly growing area of our business. Tim is a high-calibre investment professional, who will add strength to our research and management capability in this area."