Threadneedle Asset Management, a British subsidiary of US-based Ameriprise Financial, has appointed Mark Burgess as its new chief investment officer.

Mr Burgess will join Threadneedle in the first quarter of 2011 and will work closely with Sarah Arkle, Threadneedle’s current chief investment officer (CIO), as she hands over her role and responsibilities to him. Ms Arkle is retiring in 2011 and will become Threadneedle’s vice chairman.

Twenty seven years ago Ms Arkle joined Allied Dunbar Asset Management, one of the two businesses which merged to form Threadneedle. In 1994 she was one of Threadneedle’s founding members and in 2000 was appointed CIO.

Mr Burgess will join Threadneedle from Legal & General Investment Management (LGIM) where he was managing director, head of equities. He was previously at Deutsche Asset Management for 12 years, where he progressed through Morgan Grenfell Asset Management to be Deutsche’s managing director, head of UK equity & balanced products.

Mr Burgess has over 25 years experience in fund management across a wide range of classes.

Simon Davies, chairman of Threadneedle, said: “Sarah Arkle has done a splendid job in her 10 years as CIO. I am also happy to say that we will continue to benefit from Sarah’s experience and wisdom, as she has agreed to take on the role of vice chairman, working with us on high level client relationships and business development, and playing an ambassadorial role for the company.

“The appointment of such a high caliber industry figure as Mark Burgess means that we are well positioned to build on Sarah’s impressive legacy.”