Columbia Management, a subsidiary of is a subsidiary of New York-listed Ameriprise Financial, has appointed Jeffrey Knight to the newly-created role of head of global asset allocation.

The firm’s global asset allocation team currently manages a range of asset allocation strategies including capital allocation, risk allocation, risk parity and total return products and solutions.

Knight joins from Putnam Investments, where he most recently managed several mutual funds and institutional strategies as head of global asset allocation.

Columbia Management has $330 billion under management as at end-December, 2012. The firm serves individual, institutional and high net worth clients.