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Old Mutual shuffles fixed income team

Shuffle sees Stewart Cowley promoted to investment director of fixed income and macro.

Old Mutual Global Investors has reshuffled its fixed income team, promoting Stewart Cowley to the newly created position of fixed income and macro investment director.

As part of the changes, Christine Johnson has been promoted to head of fixed income, reporting to Cowley.

Cowley who will continue to manage his institutional mandates as well as the £102m Old Mutual Managed fund, will be given a new fund that is being developed to target the macro space. Cowley will be supported on the new fund by Hinesh Patel. Further information on the fund will be announced at a later date.

Johnson, who manages the £422m Old Mutual Corporate Bond fund and the £40m Old Mutual Monthly Income Bond fund, will continue to manage these funds.

Old Mutual chief executive Julian Ide says: “By focusing the leadership of Stewart and Christine, I believe we are well positioned to grow our fixed income assets under management.”

The company has also hired Simon Prior, who joins the fixed income team as a credit analyst later this month. He joines senior credit analyst Deepa Abraham, who was appointed in August.

The JHC Partnership director Keith Iles says: “Old Mutual has had a good record in fixed interest. Companies are having to rethink their offering as we come to the end of the bond cycle. Fund managers are going to have to be offering alternative and more tactical fund types.”

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