UK - Deutsche Asset Management UK has hired Piers Hillier as head of institutional European equities.

Based in London, Hillier will report to Stephen Barrow, head of global equities. He was most recently director of pan-European equities at Schroders. Schroders said his responsibilities would be absorbed within the team.

Long-only European equities fund managers Katrina Mitchell and Julian Barrell will move to manage long-short hedge funds.

"We are delighted that someone of Piers Hillier's calibre has decided to join Deutsche Asset Management to lead our institutional European Equities offering," said DeAM UK chief executive Paul Berriman.

He added: "Globally, our hedge fund business increased by 97% last year, and we are determined here in the UK to be positioned to grow our share of what is a constantly maturing market."

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