The newly created £75 billion asset management business comprised of Resolution Asset Management and Axial Investment Management is to be called Ignis Asset Management.

Ignis – Latin for fire, burn or spark – came into force on 17 November as the umbrella brand for the group’s fund management operations.

Under the Ignis Asset Management umbrella, Resolution Asset Management adopts the new brand while Axial, the group’s asset, liability and alternatives specialist, initially retains its own identity.

The business's four joint venture boutiques – Argonaut, Cartesian, Hexam and Maia – all retain their separate identities alongside the Ignis Asset Management brand.

Gavin Stewart, chief executive of Ignis Asset Management, says: ‘The launch of Ignis Asset Management represents the start of a new and exciting future for the business as we look to build on our proven skills to create a leading provider of investment management services both here in the UK and abroad.

‘As an independently capitalised multi-strategy fund management business with more than £70 billion of assets under management, Ignis is a new and powerful proposition for institutions, intermediaries and private investors alike.’