Dean Heaney has been named as head of institutional distribution at U.K. firm Mercia Asset Management, according to a news release. It is a new position, and Heaney will be based in London.

Of the £1.8 billion total, £1.6 billion was fee-earning third-party capital, with £200 million of Mercia’s own funds. The company is precisely the sort of business the new government wants to ...