Neuberger Berman has has hired Axa's former head of European high yield, as the firm prepares to launch a European high yield fund for non-US investors.

Andrew Wilmont will join the company as lead European high yield portfolio manager prior to the launch, which will be on Neuberger Berman's Dublin-domiciled Ucits range.

He will report to Ann Benjamin, the firm’s chief investment officer for non-investment grade strategies.

'High yield has matured into a global asset class and we’re delighted to expand our investment capabilities and the range of strategies Neuberger Berman offers to clients with an investor of Andrew’s calibre,' Benjamin said.