Standard & Poor's (S&P) Fund Research has lost another senior research director to Investment Manager Selection (IMS), the multi-manager firm created by former S&P principal Richard Timberlake.

Giles Gilbertson will join IMS as a research director in July. His arrival will take the number of professionals to seven, of whom four are former employees of S&P's Fund Services. IMS now has seven clients, including Lazard Asset Management and Norwich Union International, with funds under management of $2bn (€2.4bn). It would like to build its client base up to 15 over the next three years.