UK - Britannic Asset Management has appointed James Goodgame to its fixed interest team reporting to David Roberts, head of credit.
Goodgame joins in August from Fitch Ratings, London, where was a director of corporate ratings specialising in hotels & leisure, tobacco and beverages. The appointment follows that of Phil Heaney who also joined as a credit investment manager earlier this year.
Commenting head of global fixed interest Joe McKenna said:
We are further strengthening the credit team to take advantage of the increased demand for fixed interest generally, and for corporate bonds in particular.
In the UK and Europe, corporate bond markets have grown substantially and become increasingly sophisticated. There is a growing emphasis on credit analysis... . “ Britannic has about £5.5bn of fixed-interest funds under management. Goodgame’s arrival brings the total number of investment specialists managing this capital to eight, five of whom specialise in corporate bond markets.
Britannic also plans to recruit another two managers later this year. The new positions will include a further credit investment manager and a bond manager specialising in governments, agencies and swaps.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.