The London-headquartered investment manager has welcomed the former equity income head of Sarasin & Partners.

Baring Asset Management has hired Darryl Lucas as global equity income investment manager.

In his previous position as head of equity income at Sarasin & Partners, Lucas ran several global dividend funds. He left the firm in November last year amid a reshuffle of its fund management team. 

In the newly-created role, Lucas will be based in London and will report to Barings' head of multi-asset, Marino Valensise.

Barings said the global equity income unit would now become a “core pillar”, sitting alongside the firm's equity, multi-asset and fixed income capabilities.

“Income is one area where we anticipate continued strong demand as global demographic trends and low interest rates influence the need for income across the globe,” said Ken Lambden, chief investment officer at Baring Asset Management.

“Darryl’s appointment reflects this commitment to develop a comprehensive suite of income-generating products to meet our client needs.”

Before Sarasin, Lucas worked as a credit analyst at ABN Amro Asset Management and as an analyst of financial markets at the Bank of England.