Cowley captains Newton’s global fixed-income team and is charged with the management of the Newton international bond fund and BNY Mellon global bond fund.
Cowley’s number two Paul Brain, who already manages the Newton global dynamics fund and the Newton strategic corporate bond fund will take up the reins in his place as investment leader for the fixed income team.
Newton’s credit analysts will also have an additional reporting line into Simon Pryke, investment leader for the global equity research team to streamline collaboration with the firm’s equity analysts.
Cowley will join OMAM in the first half of 2009 as head of fixed Interest and macro, responsible for strengthening fixed interest capability, products and performance.
Newton CIO Jeff Munroe says: “Events of the past year have clarified the importance of conducting holistic company analysis and we are confident that the changes announced here will enhance both Newton’s credit and equity research process.
“We are delighted that Paul Brain will assume the management of the global bond portfolios and wish Stewart all the best as he embarks on the next stage of his career.”