Towers Watson, the investment consultancy, has hired a senior in-house investment manager at insurer Legal & General to become UK co-lead of its business advising insurers what to do with their money.

Keith Goodby, who was portfolio director at Legal & General's £17 billion with-profits fund, has joined Towers Watson from the start of this month as a senior investment consultant, and co-lead of the firm's Insurance Investment Advisory Group in the UK.