Pioneer Investments, part of Italy’s UniCredit, has named Brian Clay as head of its UK wholesale business – a London-based role in which he will develop the unit’s links to UK distribution networks, multi-managers and discretionary managers.

Clay was latterly head of sales for intermediary wholesale and sub-advisory business at Janus Capital in London. Before this he was business development manager at Franklin Templeton Investments, also in London.

In his new role Clay reports to David Hanratty, head of UK and Ireland distribution.

Pioneer’s UK distribution business currently has €1 billion ($1.2 billion) in assets under management and the firm has said that it is now ready to ramp up its expansion efforts.

In other related developments, in May UniCredit named Sandro Pierri as its new head of asset management – an appointment which will see him proposed as the new chief executive of Pioneer Investments at a board meeting in this month.

Pierri will replace Roger Yates, who is stepping down as CEO of Pioneer to return to London. Yates will however remain on Pioneer's board as a non-executive director after he steps down on 24 July.

Pierri has been with Pioneer since 2003, most recently serving as head of western Europe and International and as CEO of Pioneer Investments in Italy. Before joining Pioneer he worked at ING Investment Management for close to a decade.

In his new role Pierri will report directly to Federico Ghizzoni, CEO of UniCredit.