Friends Life has made its first hires for its recently-launched asset management business with the appointment of the former LV= fixed income team.
The new hires at Friends Life Investments, which is due for launch in the second half of 2012, will oversee its fixed income portfolios.
The team, led by Michael Wright, includes John Hampton, Purna Bhudia and Nigel Bradshaw and will report to Mark Versey, chief investment officer.
Wright is to become director of fixed income at Friends Life Investments where he will be responsible for fixed income asset allocation and direct management of the government bond portfolios.
John Hampton will focus on corporate bonds as head of credit and oversee all the institutional corporate bond portfolios, while Bhudia and Bradshaw will join the team as corporate bond portfolio managers.
Mark Versey, chief investment officer of Friends Life Investments, says: “I have every confidence that Mike and his team will continue to be recognised within the industry for the work they will undertake for Friends Life Investments.”
According to Friends Life, it is close to appointing a third-party administator to manage the investment operations.
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