Nicoll, who spent nearly two decades at M&G, will start his new role on 3 October and report to chief investment officer Piers Hillier.
Prior to joining the firm, he was responsible for leading a global team managing approximately £70bn. During his tenure at the M&G, he also held the roles of co-head of alternative credit and head of institutional fixed income.
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Royal London AM said the appointment forms part of a “major strategic initiative” as the firm looks to expand investment capabilities into private markets.
The asset manager explained that the current market and economic conditions, notably higher interest rates and the normalisation of bond markets, provides a “highly supportive environment” to develop this new offering.
“We believe that private markets have an important role to play in portfolios, with current market conditions providing a very conducive entry point for our business as we seek to expand our range of capabilities into this space,” said Hillier.
“Will brings extensive experience and a proven track record of building and managing investment capabilities in this area, and we believe his experience will be invaluable to our clients as we embark on this exciting new initiative.”
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Nicoll added: ”We are seeing tremendous growth in private markets and I am thrilled to be leading the buildup of Royal London Asset Management’s private assets business.
“Private markets, with their flexibility and innovation, are going to be a central part of market developments allowing us to transition to a more sustainable future. I am eager to get started and to build a strong private asset offering solutions for our clients which will work for them for decades to come.”
