The investment management arm of London-listed Legal & General is targeting growth in its private debt business.

Legal & General Investment Management has hired Nicholas Bamber from the Royal Bank of Scotland as head of private assets within its private debt business.

Bamber spent over 20 years at RBS, most recently as head of corporate coverage in the UK. He was also the bank's head of private placements and head of investment grade corporate debt capital markets for Western Europe.

In the newly-created role, Bamber will be responsible for building LGIM’s private debt capabilities. Based in London, he will report to the firm's head of investment, Aaron Meder.

“Demand for private debt is growing as investors look to lock into the enhanced yields that this asset class can offer over the term. Nick will focus initially on European private placements, but the ambition is to build a global business across currencies and asset classes,” said Meder.

“Nick brings a wealth of experience of debt capital markets to LGIM. In this senior role, he will lead LGIM forward on our mission to grow this important business line.”

The appointment is subject to regulatory approval.