Schroders head of European and UK credit strategies Adam Cordery has left the firm.
Cordery was manager of the offshore Schroder ISF Euro Corporate Bond, the onshore Schroder Monthly High Income, Schroder Corporate Bond, Schroder All Maturities Corporate Bond and Schroder Long Dated Corporate Bond fund.
Before joining Schroders in 2004, Cordery was head of European high yield at Invesco, where he worked for four years.
The firm is making additions to its global credit team and has hired head of European credit portfolio management at Legal & General Investment Management Patrick Vogel.
Vogel will join in the new role of head of European and UK credit management and research,from August 27, and will report to global head of fixed income Karl Dasher.
In the newly-created role, Vogel will oversee Schroders’ London-based credit portfolio management and research and will be lead portfolio manager on the Schroder ISF European Corporate Bond fund.
Karl Dasher says: “Schroders believes a strong team based approach to managing credit strategies will deliver the best results for our clients. We continue to strengthen our expertise in credit strategies and Patrick brings an impressive track record in European credit and a wealth of experience overseeing the development of credit research and investment processes.
“His strong experience and results will significantly strengthen our credit team. I am confident we now have an extremely strong leadership team in place to drive Schroders’ fixed income business forward.”
The asset manager is set to make two further hires to bolster the team.