Adam Cordery exits Schroders

Corporate bond manager Adam Cordery has left Schroders.

Cordery (pictured) ran five of the asset manager's funds including the £778 million Schroder All Maturities Corporate Bond fund and the Schroder Monthly High Income fund.

Schroders confirmed Cordery's departure to Citywire on Tuesday evening, saying the manager had left to pursue other opportunities.

Schroders said it had hired Legal & General Investment Management's Patrick Vogel to join the team, who would take on the newly created role of head of European and UK credit management and research. He will report to Karl Dasher, head of fixed income.

Vogel will join Schroders at the end of August, and in addition to his head of European and UK credit role will take charge of the Schroder ISF European Corporate Bond fund.

Commenting on the appointment, Dasher said: 'We continue to strengthen our expertise in credit strategies and Patrick brings an impressive track record in European credit.'

Vogel has achieved first quartile annualised performance over one, two and three years, Schroders added.