The UK investment manager has expanded its multi-asset team, hiring from a rival firm.

London-listed Invesco Perpetual has hired Sebastian Mackay from Standard Life Investments as a fund manager within its multi-asset team.

Mackay will assume his new role in September. He joins after five years with Standard Life Investments. There, he was an investment director/portfolio manager on the firm's absolute return global bond strategy, and a member of the global absolute return strategy portfolio construction team. He previously worked at Scottish Widows Investment Partnership.

In the new position, Mackay will join the firm's 10-strong multi-asset team. The team is led by David Millar, whom he previously worked with at SWIP.

“His strong macro background from time as an economist on the bond team with me at Scottish Widows Investment Partnership, combined with the extensive fund management expertise he gained both there and at Standard Life Investments, makes him the ideal candidate to take forward our offering into the multi-asset targeted income space,” said Millar.

Invesco Perpetual, which is based in Henley-on-Thames, Oxfordshire, serves financial advisors, institutions and private investors. It is part of New York-listed Invesco, which operates in over 20 countries.