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Fidelity International has appointed Andrew McCaffery in a newly-created role as chief investment officer for "Alternatives and Solutions", tapping into perceived mounting demand for asset classes such as private equity and real estate.

In the new role, McCaffery will drive the development of Fidelity International’s Alternatives and Solutions franchises, the existing Multi Asset, Investment Solutions Design and Real Estate teams. He takes up the role in July, reporting to Bart Grenier, global head of asset management. He will be based in London.

With more than 30 years’ industry experience, McCaffery joins after eight years at Aberdeen Standard Investments, where he was global head of strategic client investments. He has also been the global head of solutions and global head of alternatives at the time of the merger. Prior to this, he worked in a variety of senior roles including at BlueCrest Capital Management, where he was a founder member of the alignment investors division, and as CEO of Attica Alternative Investments. He was also a managing director at UBS in the fixed income, currency and commodity division prior to this.