Gartmore Investment Management, the fund manager with £48bn (€70bn) in assets, has hired Charles Beazley to the new role of head of institutional and alternative investments.

Beazley joins Gartmore's executive board and takes responsibility for the company's institutional business and its entire hedge fund range. These will include single hedge fund strategies and a fund of hedge funds product which followed Gartmore's acquisition of Riverview, the hedge fund specialists.