The UK investment house has a new CIO.

UK-based Neptune Investment Management has appointed James Dowey as chief economist and chief investment officer. He reports to Robin Geffen, the company’s founder and chief executive.

Dowey has been chief economist since 2009 but now occupies this newly created dual role.

Geffen will continue to take overall responsibility for the investment team and manage all of the funds he currently runs for the long term, the firm said in a statement yesterday.