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NU fallout continues as bond chief quits

Norwich Union has lost another high-profile fund manager after Donna Cabral quit as manager of its £921m corporate bond fund just three weeks into the role.

Her departure follows the loss of three senior members of NU’s property team to Aegon earlier this month and bond fund manager Mark Gull to Pension Insurance Corporate.

Roger Webb, who runs a number of funds, including the Norwich income plus fund, will take on the fund while the firm looks to find a long-term replacement.

Cabral starting running the fund on July 2 after former manager Paul Mingay moved to the newly created solution and structures team at Morley. She had worked alongside Mingay as co-manager on the fund.

Hargreaves Lansdown head of research Mark Dampier says: “It is the usual trouble for a big group and its environment but this is not a good advert for them at all.”

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