Last week, Alliance Trust said it has appointed global head of fixed income Rod Davidson as well as Gareth Quantrill, Stuart McMaster and Stuart Steven. Davidson will head the fixed income team who will start at the trust early next year.
The move blew a hole in the Swip fixed-income team, which has 20 investment professionals and manages in excess of £30bn of assets.
Murray is sole manager of the Scottish Widows strategic income fund as well as co-managing the Widows corporate bond, with Quantrill, and the corporate bond plus fund. Hickmore manages the Swip sterling credit advantage fund.
Steven ran the Swip European corporate bond and co-managed the corporate bond plus funds. He also ran the absolute return bond fund with Quantrill. McMaster ran the £50m Swip sterling bond fund.
Andrew November will continue to have overall responsibility for fixed income at Swip. Murray and Graeme Caughey will also take responsibility for specific external institutional aggregate mandates.
Alliance Trust chief executive Katherine Garrett-Cox says: “The combined skills and experience the team brings to our investment approach will greatly enhance the income-earning potential of the trust.”