Reuters Group Plc has appointed the Michael Peace, CEO of one of its subsidiaries to the position of global head of its Research and Asset Management division. The outgoing head is Julie Holland.

Peace most recent position was CEO of Lipper, the Reuters mutual fund information subsidiary. He was also head of Reuters Global Wealth Management.

The outgoing Holland will continue as a board member of FXMarketSpace, which is a Reuters joint venture with the Chicago Mercantile Exchange, aimed at offering a centrally cleared, foreign exchange marketplace.

The hand over process will take three months as Peace receives his new responsibilities from Holland. His focus will be on driving forward growth in Research and Asset Management.

In a statement Peace said, The conditions are right for accelerated growth in Reuters Research and Asset Management. Investors, from institutions to individuals, are hungry for the

information we provide.”