Schroders has appointed Philippe Lespinard in the newly created role of chief investment officer for fixed income.
Lespinard joins on November 1, 2010, and will report to head of fixed income Karl Dasher. Lespinard will have responsibility for managing the global multi-strategy fixed income team and chair the global fixed income investment committee that covers the entire fixed income range.
Lespinard was previously head partner and head of absolute return strategies at Brevan Howard in London. He was also chief investment officer for BNP Paribas Asset Management in Paris.
Last month Schroders head of global fixed income Nick Gartside quit the firm after eight years to join JPMorgan Asset Management.
Dasher says: “We are delighted that Philippe is joining Schroders in the newly created role of CIO fixed income. Our global fixed income business has grown to nearly $50billion assets under management in recent years and the addition of someone of Philippe’s calibre, will ensure that we realise our full potential, particularly in the area of global multi-strategy mandates.
“His management philosophy complements our approach that encompasses a globally resourced team of specialist analysts and portfolio managers. His experience in building and managing sizable global multi-strategy fixed income businesses will be a great asset as we seek to expand our business in that area.”