Santander Asset Management is planning to build a new global multi-manager team, Money Marketing reports. Tom Caddick will head the new fund management and José Martínez-Sanjuán will lead fund selection. Caddick will also continue to manage Santander’s funds with Toby Vaughan, a senior manager on the new global multi-manager team.

Santander will grow the department with recruitments and also increase its funds and asset under management. The co-managers have made initial changes to their 14 multi-manager funds, which have over £4.3 billion of assets under management.

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