Vanguard, the US-based funds firm, has hired Neil Cowell as head of retail sales covering Europe.

Cowell previously worked at Standard Life in a senior distribution role. In his new position he will be leading the team responsible for developing Vanguard’s relationships with fee-based advisors and wealth managers. He will report to Nick Blake, head of sales.

“With just over a year to go until the implementation of the RDR, Neil will have an important role in overseeing the expansion in his team supporting advisors and wealth managers,” said Nick Blake.

In June, Vanguard launched a new range of five index funds for the UK market, called LifeStrategy, intended to be a low-cost option carrying annual charges in the range of 0.29 to 0.33 per cent. They have been designed to suit various levels of risk tolerance and will be invested in a mixture of global stocks and UK bonds, with between 20-100 per cent of the holdings comprising equities depending on the fund.