Royal London Asset Management has appointed Darren Bustin - latterly of Aegon - as head of derivatives,.

Bustin held the same role at Aegon and was responsible for the design, structuring and implementation of derivative strategies across the major asset classes. Before this he was an associate director at Alladin Capital, having previously been in sell-side derivatives at BNP Paribas and JP Morgan.

In other recent developments, at the start of this month news emerged of the departure of David Varley, manager of the firm’s £430 million ($691 million) Japan Growth Fund.

Varley, who has managed the fund since joining the firm in 2007, is leaving the industry to train as a teacher. Taking over Royal London’s Japan Growth Fund on an interim basis will be its former manager, Jonathan McClure. The firm is actively looking for a permanent manager for the fund, a spokesperson told WealthBriefing.