London asset manager LionTrust is making four appointments to run the funds of Jeremy Lang and William Pattisson, who will leave on 15 April. The firm has also poached a five-strong European fixed income team from Ilex Asset Management, according to a statement.

Gary West and James Inglis-Jones will take over the management of the Liontrust First Income and First Large Cap Funds, while Anthony Cross and Julian Fosh will take over the management of the First Growth Fund. The appointments are from within the company and are effective from 25 March.

The Ilex team consists of Simon Thorp, chief investment officer, James Sclater, senior portfolio manager, Paul Owens and Quentin Peacock, co-heads of research, and Gareth Roblin, chief operating officer.

The team manages the Cayman Islands-domiciled Ilex Credit Fund. Liontrust’s Guernsey arm has entered into an agreement with Ilex to acquire the investment management contract for the fund from Ilex. The fund, which was launched to take advantage of the investment opportunities created by the introduction of the euro, has used a consistent investment process for the past nine years. This process will be documented at Liontrust.

Liontrust also intends to launch a number of collective investment vehicles that will adopt this process, including further alternative investment funds, authorised unit trusts and offshore funds.

“Recruiting Simon Thorp and the team is a key part of our future strategy,” says Nigel Legge, chief executive of Liontrust.

“We have previously stated that our objective is to broaden our product range and expand into new asset classes. Simon’s team has vast experience gained at various companies over the years, including Akroyd &  Smithers, SG Warburg, Salomon Brothers,NatWest Markets, Morgan Stanley, Deutsche Bank and James Capel and has delivered excellent performance through its Ilex Credit Fund,” he added.

Liontrust managed £1,907 billion ($2.8 trillion) in UK and European equities at 23 March.