Skandia Investment Group, part of European financial services firm Skandia, has recruited Marc Bulstrode from Barclays Wealth to take up the post of chief commercial and finance officer.

Mr Bulstrode had previously spent six years in various leadership roles with Barclays and was most recently a director within Barclays Wealth, the bank’s private client arm. Prior to Barclays, he held a number of senior finance roles with Aviva.

In his new role Mr Bulstrode reports to Jamie MacLeod, SIG’s chief executive, and is accountable for the overall commercial management and financial control of the business.

"Marc joins SIG at a crucial time - the business is developing rapidly and we have ambitious expansion plans. Marc will bring a unique insight into our commercial discipline and his experience and skills will add significant value to our senior management team," said Mr MacLeod.

SIG is comprised of Skandia Global Funds (Ireland); Skandia Fonder AB (Sweden) and Skandia Investment Management (UK). The firm also provides services to open and guided architecture platforms.

As at year-end 2008, SIG oversees £53 billion ($78.8 billion) of assets in a combination of funds and open architecture platforms. The firm has around 45 researchers and portfolio managers.