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Schroders interest rate head David Scammell departs

Schroders’ David Scammell has exited his role as the asset manager’s head of UK and European interest rate strategies.

His departure means management responsibilities for the €1.4bn (£1.2bn) Schroder ISF Euro Liquidity and £320m Schroder Gilt and Fixed Interest funds, as well as the €600m Schroder ISF Global Inflation Linked Bond fund he co-managed, have been reassigned to other members of the group’s fixed income team.

Jamie Fairest will run the Schroder ISF Euro Liquidity fund, with head of global macro Bob Jolly and Thomas Sartain named as alternates, while the Schroder Gilt and Fixed Interest fund will be led by Sartain with Gareth Isaac as alternate.

The Schroder ISF Global Inflation Linked Bond fund will be managed by Jolly and Isaac’s global multi-sector team.

Jolly says: “We are pleased to name Thomas Sartain and Jamie Fairest as lead fund managers. They are highly skilled fund managers who have been working with us for more than six years and have earned the opportunity for this responsibility.”

Schroders has been evolving its fixed income investment desks into a “fully-integrated, team-based approach” over the past 12 months, which global head of fixed income Karl Dasher claims will create a “performance advantage” for its clients.

Chelsea Financial Services managing director Darius McDermott says: “Bob Jolly and Gareth Isaac are very experienced managers – particularly Bob Jolly, who is very experienced on currency, rates and fixed income generally.

“I think the funds are in a safe pair of hands.”

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