UK - Hewitt Associates has appointed Christine Farquhar from Lombard Odier Darier Hentsch in a bid to boost its fixed income capability.
In her new role, Farquhar will lead Hewitt’s fixed income fund manager research.
At Lombard, Farquhar was head of fixed income in London with responsibility for fixed income investment strategy, client and consultant contact.
Andy Tunningley, head of UK investment consulting at Hewitt, said the appointment was a “direct response” to increased client demand for fixed income investments.
As we know, many pension funds have decreased equity weightings, or in some cases have replaced them entirely with bonds,” he said.
“Trustees are no longer using bonds purely for diversification purposes, but rather to harmonise assets with liabilities. As a result, client demand for a clearer understanding of fund managers with the necessary skills to manage large fixed income portfolios has grown.
Farquhar added: “Pressure from shortfalls highlighted by FRS17, equity market volatility and overall concerns on meeting fund liabilities has, as we know, led many trustees and scheme sponsors to consider reviewing their investment portfolios.
“In today’s sophisticated marketplace, bonds do have the potential to meet those liabilities if managed appropriately and imaginatively.”
Prior to Lombard, Farquhar spent nine years as head of fixed income at Insight Investment and six years as head of fixed income at NPI.
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