(London) – Aviva Investors, the global asset management business of Aviva plc, has announced the appointment of two new senior hires to the firm’s Equity team. Luciano Lilloy will join as Head of Sustainable Equities, whilst Duncan Bulgin will join the firm as Head of Equity Research.
- Luciano Lilloy joins the firm as Head of Sustainable Equities, in what is a newly created role
- Duncan Bulgin joins as Head of Equity Research, and will succeed Max Burns, who will retire this year following a phased transition
Luciano joins the firm from Impax Asset Management and brings with him significant experience in sustainable and thematic investing. He joins as Head of Sustainable Equities, a newly created role which will see him play a key role in further developing the firm’s sustainable equities capabilities. Luciano will also become a named Portfolio Manager on the Global Climate Equity Strategy.
Duncan joins the firm from GAM Investments and brings more than 20 years of investment experience as both an analyst and portfolio manager, including senior leadership roles at both GAM Investments and Newton Investment Management. In addition to his role as Head of Equity Research, Duncan will also oversee global commodities research.
Duncan will succeed Max Burns, who will retire later this year after a phased transition. Max joined the firm in 2016 and held various roles within the Equity team before being made Head of Equity Research in 2022. As part of the transition, Harsharan Mann will be named Co-Portfolio Manager of the Global Core Strategy, and Luciano will assume Max’s portfolio management responsibilities for the Global Climate Equity Strategy.
In addition to the arrival of Duncan and Luciano, it has also been announced that Aviva Investors has united its equities capabilities under a single leadership structure. As part of these changes, the Index Investments team will also move into the Equities business, led by Nicholette MacDonald-Brown who joined the firm as Global Head of Active Equities in September 2025.
Nicholette MacDonald-Brown, Head of Active Equities at Aviva Investors, said:
“We’re thrilled to welcome Luciano and Duncan to the firm. We’re very excited to begin working with them both to further evolve our Equity offering, to ensure we are providing the best possible solutions and outcomes for our clients. Luciano and Duncan both bring with them vast industry experience and knowledge that will complement the existing expertise within portfolio management and research teams.
We want to thank Max Burns for his significant contribution to the Aviva Investors Equity team over the last decade and wish him all the best in retirement. Whilst we’re sad to see him leave, we’re equally happy to see Harsharan Mann assume Portfolio Management responsibilities for the Global Core Strategy, which reflects her development and growing contribution to the team.’’
