Aviva Investors, the asset-management division of U.K.-based Aviva (OTC:AVVIY), has appointed Euan Munro, the former global head of multi-asset investing and fixed income for Standard Life, as its new CEO effective this coming January, Aviva announced recently. Munro will report directly to Aviva Group CEO Mark Wilson.

Munro will replace interim Aviva Investors CEO John Misselbrook, taking over a division that Wilson refers to as "a core part of the [Aviva] group." Wilson added that "Euan will play a pivotal role helping Aviva Investors capitalize on its expertise managing Aviva's own funds, become a stronger third-party manager, and increase its contribution to the group."

As of year-end 2012, Aviva Group had approximately $418 billion of assets under management, according to the announcement, consisting primarily of fixed-income investments, multi-asset funds, and real estate.

Munro's appointment as CEO of Aviva Investors is subject to regulatory approval.