Salford-based investment giant AJ Bell announced that former Avellemy Investment Management executive Alena Kosava has joined the business as head of investment research, with Ryan Hughes becoming head of investment partnerships.

Hughes joined AJ Bell in 2016 as head of investment research and has been heavily involved in the growth of AJ Bell’s Managed Portfolio Service (MPS) since launch the same year.

His new role as head of investment partnerships will see him focus on AJ Bell’s bespoke MPS for advised clients.

Under the bespoke MPS proposition, the AJ Bell Investments team build and manage portfolios tailored to individual specifications for adviser firms and their clients.

“With this service gaining increasing popularity, Ryan’s new role enables him to take a dedicated focus on portfolios within this growing area of AJ Bell’s investment offering,” said the company.

Kosava will assume responsibility for the analysis underpinning AJ Bell’s core investment solutions across the business.

“This includes AJ Bell’s core MPS offering risk-targeted portfolios with active, passive and blended options; AJ Bell’s own funds providing diversified investment exposure through a choice of funds built for growth, income and responsible investment objectives; and the Favourite funds list,” said the company.

“Alena joins AJ Bell having most recently been Avellemy Investment Management head of collectives.

“Previously she spent over seven years in investment analysis and fund research with Tilney Smith & Williamson, including as director of equity and alternative strategies.”

AJ Bell Investments managing director Kevin Doran said: “Our client investment solutions, including our MPS and in-house funds, continue to be extremely popular with AJ Bell clients.

“Ryan has been central to the success of our MPS and this new role will enable him to focus on our bespoke MPS offering, with portfolios built in partnership with adviser firms according to specific needs of their clients.

“Alena brings strong experience in analysis, research and portfolio management to the investment team and we’re delighted to welcome her to the business.

“Her appointment exemplifies the growing strength of our team of investment experts, which underpins the success of our investment offering at AJ Bell.”

Kosava said: “This is an exciting opportunity to join one of the UK’s largest and best-regarded investment platform businesses.

“AJ Bell’s solutions are founded on an exceptional product offering, compelling pricing structure and strong performance.

“I am looking forward to this new chapter and to developing the proposition for our clients as the business continues to grow.”

Hughes said: “Our Partnership model has been growing quickly and I’m looking forward to working even closer with our clients in that area.

“I will continue to work very closely with Alena and her team to ensure our portfolios keep on delivering exceptional outcomes for our clients.”