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Henderson names second new fixed income head in two years
by Robert St George on Nov 04, 2013 at 12:46
Jim Irvine, who was appointed as Henderson’s head of fixed income in February 2012, is leaving the group and will be replaced by Phil Apel, who is + rated by Citywire.
Apel (pictured) will be responsible for £18.3 billion of global fixed income assets, with a team of around 60 people in the UK and US, and will report to Rob Gambi, who will be joining Henderson early in 2014 as chief investment officer.
‘This concludes the change to our senior executive and board ranks that we have undertaken this year to position us for our next phase of growth as we further internationalise the business,’ said Andrew Formica, Henderson’s chief executive, in a statement. ‘With the appointment of Rob Gambi as chief investment officer supported by Graham Kitchen as head of equities and Phil Apel as head of fixed income, we have a very strong line-up to continue the strong investment performance we have delivered for our clients.’
Apel added: ‘Our fixed income business has grown in recent years to become one of the go-to houses in Europe both for institutional and retail investors. We have a global investment process, and our aim now is to globalise our product range and client base in keeping with the demand we see throughout the world. Given the strong Henderson fixed income team we already have in place and the plans we have to grow it I am confident that we are in a sound position for the future.’
Apel originally joined Henderson in 2005 as head of interest rates and is currently chairman of its fixed income investment strategy group, the team responsible for the Henderson Total Return Bond and Henderson Absolute Return Bond funds, among others. Over the past three years Apel has returned 12.9%, according to Citywire data, compared with a peer-group average of 12.5%.
Apel will be succeeded as head of the interest rates team by James McAlevey, who will also join the fixed income investment strategy group.
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