Legal & General Investment Management has appointed a new head of private assets in a bid to develop the firm's private debt business.

Nick Bamber joined LGIM last week from Royal Bank of Scotland where he was head of corporate coverage in the UK.

Mr Bamber has spent over 20 years at RBS in a number of senior roles including head of private placements and head of investment grade corporate debt capital markets for Western Europe.

He will report directly to Aaron Meder, head of investment at LGIM. In this newly created role, Mr Bamber will be responsible for building LGIM’s private debt capabilities. The appointment is subject to regulatory approval.

Aaron Meder, head of investment, said: “This is an important next step in our strategy to provide holistic end-to-end solutions for our customers. Nick will focus initially on European private placements, but the ambition is to build a global business across currencies and asset classes.

“Nick brings a wealth of experience of debt capital markets to LGIM. In this senior role, he will lead LGIM forward on our mission to grow this important business line.”