Versey is currently chief investment officer, real assets, at Aviva Investors. He will join Aviva’s group executive committee, reporting to Aviva Group CEO, Amanda Blanc, and will assume his new role with immediate effect.

Versey succeeds Euan Munro who, after seven years as CEO of Aviva Investors, will take up a role outside of Aviva.

Blanc said: 'Mark is the leader that Aviva Investors needs to take it forward. Aviva Investors is a core part of Aviva and its investment capabilities are critical to our ambition to be the UK’s leading insurer.

'I have been impressed with Mark’s determination to strengthen Aviva Investors, deliver excellent investment performance and extend our leadership in responsible investing.'

Versey joined Aviva Investors in 2014 and has most recently led, and significantly grown, the £47 bn (€52 bn) real assets business which includes infrastructure, real estate and private debt markets. He sits on the investment committee of the investment association and chairs its sustainability and responsible investment committee.

Previous roles include chief investment officer at Friends Life Group and chief investment officer of AXA UK.

Versey said: 'I am delighted to have the opportunity to lead Aviva Investors through its next phase of growth. The business has strong capabilities in fixed income, credit, equities, multi-asset and real assets, as well as being a leader in responsible investment.

'My overriding priority will be to provide our customers with strong and consistent investment performance to deliver the outcomes they are looking for, including meeting net zero emission targets through sustainable investments. We have a significant opportunity at Aviva Investors to grow the business organically and help Aviva meet its ambitions in the UK.'

Aviva Investors is the international asset management business of Aviva plc, with assets under management of £355 bn at end of June 2020.