UK - Axa Investment Managers has poached a US fixed income team from Advantus Capital Management.
The team of four senior US investment-grade fixed income portfolio managers, led by Frederick Feuerherm, will report to head of securities Robert Kyprianou, based in London.
Axa said the team had worked together for 12 years, with a combined 70 years of experience.
Kyprianou said: “Building our US investment-grade fixed income business is a strategic imperative for Axa IM.
“Frederick and his team have demonstrated a proven ability and track record in this area and their expertise will reinforce our global fixed income expertise and our ability to generate consistent performance for clients.”
Joining with Feuerherm is Wayne Schmidt, Kent Weber, and Steven Nelson.
Meanwhile, three senior managers from Schroder Investment Management’s fixed income division – head of European fixed income Robert Gall, head of sterling fixed income Andrew Wickham and fixed income manager Richard Dryer – have joined Insight Investment.
Dryer will join Insight as a credit manager, while Gall and Wickham join as co-heads of UK fixed income replacing Michael Amey who is joining Pimco in August.
Schroders said the recent departures would have minimal impact upon the firm and stressed it had recruited 10 fixed income professionals in the past 18 months.
Schroders head of UK fixed income business development Jeremy Cave will replace Wickam. Lisa Coleman, who covered for Gall when he was on sabbatical, will replace him as head of European fixed income.
Schroders is in the process of hiring a senior UK corporate bond manager to replace Dryer.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.