Kames Capital, the UK asset management arm of Aegon, has appointed Martin Davis as chief executive officer, subject to regulatory approval.

He replaces interim chief executive Sarah Russell, effective 1 October.

Davis will focus on strategic direction, governance and overseeing the overall development of Kames as a distinct business within Aegon Asset Management.

Davis has more than 20 years’ experience in financial services, most recently as chief executive of Cofunds, where he oversaw the platform’s transition through the UK Retail Distribution Review.

Before this, he spent a number of years with Zurich Insurance Group, including running its international and global emerging markets life businesses.