Christine Johnson, head of fixed income at Old Mutual Global Investors has left the company following a restructure of the team.
The company said that following a strategic review, it was decided that Johnson’s role was ‘no longer required’.
The firm had already started restructuring and expanding its fixed income team back in 2015 following the appointment of John Peta as head of emerging market debt.
Shortly after Tim Barker was promoted to head of credit and Mark Nash was appointed as head of global bonds in June 2016.
The trio will now be reporting to Paul Simpson, director of investments.
Johnson (pictured) had already taken a step back from fund management, handing over the Corporate Bond fund to Lloyd Harris in December 2015, and the Global Strategic Bond fund to Nash and Nicholas Wall in August 2016.
She remained co-manager on the £110.6 million Monthly Income High Yield Bond fund and the £135.1 million Monthly Income Bond fund. The High Yield Bond fund will continue to be managed by Bastian Wagner, with Barker assuming the co-manager role.
Barker will also take over management of the Monthly Income Bond fund.
Simpson commented: ‘OMGI’s fixed income team has been remodelled over the last two years, with a focus on hiring high-quality fund managers and promoting internal talent to ensure we now have clear areas of focus.
'This structure is pivotal to our investment philosophy that having specialists in each of the major areas of fixed income that work closely with one another is crucial to finding value in today’s increasingly interconnected markets.’
Johnson added: ‘During my time at OMGI, we have built a highly experienced and successful fixed income desk. With the team in place for nearly nine months, a head of fixed income is no longer required. Therefore, I believe now is the right time for me to move on and explore alternative opportunities.'