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L&G hires ex-Gulf International Bank CIO as emerging market debt head

Legal & General Investment Management has hired Uday Patnaik as head of emerging market debt in the multi-strategy fixed income team.

As the firm’s first EMD sovereign specialist, he will be able to support Martin Reeves on the Dynamic Bond Trust following the departure of high profile manager Dickie Hodges.

Patnaik will report to Anton Eser, deputy head of global fixed income and has been tasked with building L&G’s emerging market debt capability.

He has more than 25 years’ experience in the emerging market debt sector and was most recently chief investment officer at Gulf International Bank, where his main responsibility was managing the flagship EMD hedge fund. Prior to GIB he worked as an emerging market debt trader at Bear Stearns and Merrill Lynch.

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