Jupiter UK equities manager Ian McVeigh has stepped away from day-to-day fund management to become head of governance, as the firm continues its efforts to reshuffle its approach to corporate governance.

McVeigh, who had been co-managing the £1.4 billion Jupiter UK Growth fund since 2003, has been handed the newly created governance role in a move that will see full control of the fund switch to Steve Davies, his co-manager for the past two years, on May 1, according to a Jupiter statement on Wednesday.