At Aviva Investors, Cumming will step into the role of chief investment officer in the team’s equities division. In his new position, he will oversee the firm’s equity teams globally, which manage £69bn worth of assets.
He will officially join the firm on 2 January 2018 and report to the group’s chief executive Euan Munro.
This is the first job the industry titan has taken, since vacating his seven-year post as SLI’s head of equities earlier this year and months before the firm’s union with Aberdeen Asset Management.
Cumming had been with SLI since 1998, starting out as an investment director and working his way up to head of UK equities in 2000.
Prior to his time at SLI, he held posts at Morgan Grenfell Asset Management, Edinburgh Fund Managers and Royal London Mutual.
He replaces the current global head of equities Chris Murphy, who has been at the helm since 2015. Murphy will now be “focusing all his efforts” on managing the Aviva Investors UK Equity Fund, the Aviva Investors UK Equity Income Fund and the Aviva Investors Distribution Fund, the firm confirmed.
Munro said: “I am delighted to welcome David to Aviva Investors. He has strong leadership qualities and an excellent track record in running equity strategies that appeal to both institutional and wholesale clients. His arrival is a signal of our intent to invest in our equities business, which will strengthen our range of investment solutions for Aviva and external clients.”
Cumming added: “I am excited to join Aviva Investors, which has developed an excellent reputation for delivering solutions that meet specific client needs. I look forward to further developing its investment proposition across key equity asset classes and wider range of investment solutions.”
