Pictet Asset Management has expanded its multi-asset team by hiring three multi-asset managers from Barings.

The trio – Percival Stanion, Andrew Cole and Shaniel Ramjee-will join the firm in the coming months and will be based in London.

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Stanion will join Pictet as head of multi-asset strategies (excluding Switzerland) and as vice chairman, while Cole and Ramjee will support Stanion.

In his new role, Stanion will report to Olivier Ginguené, head of asset allocation & quantitative investments.

Stanion will also serve as co-chairman of the Pictet Asset Management Strategy Unit with Ginguené and will work with Luca Paolini, PAM chief strategist.

Additionally, Pictet Asset Management is planning to launch a new multi-asset strategy, known as a diversified growth fund and also intends to launch similar products for other markets at a later stage.

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Renaud de Planta, managing partner of the Pictet Group and CEO of Pictet Asset Management, said: "We are delighted to be able to attract a person of Percival’s calibre, and this hire demonstrates our determination to expand our existing multi-asset strategies for clients both in the UK and elsewhere."