Stobart currently holds non-executive roles at Throgmorton Trust, Utilico Investments and Capita Managing Agency, as well as senior trustee positions on the pension schemes of Lloyds Banking Group, Anglian Water, Dixons Store Group and Lloyd’s of London. Stobart began his professional career at Coopers & Lybrand and latterly served at what is now Lloyds Banking Group from 1977 to 2008. At Lloyds Banking Group, Stobart held various senior positions including chief executive of Hill Samuel Bank and latterly director of public policy and regulation.

Watts began his professional career at Phillips & Drew in 1971 before moving to Gartmore in 1979, where he spent the remainder of his professional career.

At Gartmore, Watts held various senior management positions including the role of chief investment officer and latterly the role of joint chief executive from 1996 until his retirement in 1999. Watts is currently a non-executive director at JP Morgan Fleming Income & Growth Investment Trust and has previously held non-executive directorships at Martin Currie Investment Management, Investec High Income Trust, Merchant Navy Ratings Pension Fund, Key Asset Management and AXA UK.

On the Board, Stobart will chair the audit and risk committee and Watts will chair the investment committee, the firm said.

In other recent developments, earlier in the week Ignis Asset Management said that it had formed a strategic alliance with Tyndall Investment Management in Australia. Under the terms of the agreement, Ignis will sub-advise investment strategies exclusively with Tyndall AM into the institutional market in Australia.