Dublin-based Appian Asset Management has selected Eugene McCague, former managing partner and chairman of law firm Arthur Cox, as its next chairman.

The investment firm, which has more than €800 million of assets under management and advice, has also appointed Pat Cox, former president of the European Parliament, as a non-executive director.

The appointments come as current chairman Kieran McGowan and non-executive director Martin Cronin prepare to step down from the company's board.

"These appointments are excellent news for Appian and our clients and bring exceptionally strong skills in business, law and corporate governance to the board as we continue to grow our client base and cement our position as a leading active asset manager," said Patrick Lawless, chief executive of Appian Asset Management.