Listed asset manager River and Mercantile Group has hired David Hanratty as its global head of distribution.

Mr Hanratty takes over the role from the recently promoted chief executive officer James Barham, who oversaw distribution as part of his previous work as deputy group chief executive officer. The role will be based in London and he will report directly to Mr Barham.

In his new position, Mr Hanratty will be responsible for all the distribution teams across the investment solutions and asset management business. The group currently encompasses River and Mercantile Asset Management (UK, Global and Emerging Market Equities), River and Mercantile Solutions (Advisory and Fiduciary Management), River and Mercantile Derivatives (LDI and Structured Equity) and the River and Mercantile Macro Division.

His appointment follows a record-breaking year of asset growth for the group, with AUM climbing to £40 billion for the year ending 30 June 2019, with net sales in the final quarter reaching £4 billion.

Mr Hanratty has over 30 years of experience in the industry and was previously managing director at Pioneer Investments. He held a variety of positions at the firm, including having direct responsibility for global distributors across the business. Prior to this, he was sales and marketing director at Janus’s UK wealth operation.

Mr Barham was pleased with the appointment and noted that Mr Hanratty could bring new ideas to the group.

He explained: “His appointment is an important hire for our business as we look to step up our distribution resource and momentum and increase the accessibility of our investment strategies to the global marketplace. David’s broad experience enables him to bring new and exciting ideas to the business that will help us grow and develop our distribution strategy across our core markets and to examine opportunities elsewhere.”