UK - Will Hay, Standard Life Investment's (SLI) head of fixed income, is to leave, following following a reorganisation at the firm.
Hay will leave SLI after 23 years, 10 months after his wife Wendy - formerly head of global equities - left to join local rivals Aegon as its chief investment officer. His departure comes as the firm looks at building a global investment platform.
To that end, the firm opened an office in Boston last year and has since embarked upon a string of hires.
Following the February appointment of bond managers Gregor MacIntosh and Jonathan Gibbs, SLI has just announced that Rod Paris will be joining as its new head of global fixed income, a move that has rendered Hay’s position obsolete. A SLI spokesman said that Hay was offered a new position within the firm, but he turned it down and opted to retire instead.
Paris join’s SLI from Merrill Lynch Investment Managers, where he was both a managing director and head of global fixed income. He will take up his new post at the end of the month.
As the new head of global fixed income, Paris will have responsibility for the performance of UK, euro and overseas bonds, including corporate, and help to develop and grow that business.
Keith Skeoch, SLI chief investment officer, said: “We are extremely fortunate to have attracted someone of the calibre of Rod Paris. Rod’s huge experience of global fixed income markets in addition to a long track record of managing funds and working closely with clients and consultants will help us greatly in the development of our fixed income products.”
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