Jupiter Fund Management has named Liz Airey as new chairman, replacing Jamie Dundas who has stepped down due to ill health.

Dundas has also stepped down form his roles as a member of the nomination committee and the remuneration committee.

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Airey will also take over the role of chairman of the nomination committee. Airey currently serves as senior independent non-executive director at the firm.

Additionally, the firm has hired Lorraine Trainer as senior independent director and Jonathon Bond to the nomination committee.

The firm is seeking a substitute for non-executive director to chair the audit committee, a role previously held by Airey.

Airey started her career at SG Warburg and worked as chairman of the Unilever UK Pension Fund between 2008 and 2014.

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Maarten Slendebroek chief executive of Jupiter, said: "Airey has a wealth of experience, insight and understanding of Jupiter’s unique culture and business and her major contribution to the leadership and governance of the board made her a natural choice for the role".

Airey said; "Jamie played a key role in leading Jupiter through its initial public offering and its subsequent success as a listed company. Our thoughts are with Jamie at this time, and we hope he continues to make good progress in his recovery."