Royal London Group has hired former Swip UK equity manager Jon Bale, while three managers have left following the £219 million acquisition of the Co-operative Banking Group's fund management and life insurance businesses.
Simon Yarwood, who was head of trading in equities and derivatives at Co-operative Asset Management and who ran the FTSE4Good tracker fund, recently left the business, alongside the AA-rated manager of CAM's Corporate Bond Income Trust Jamie Bebb. Meanwhile, portfolio manager Elaine Fox has also exited.
A spokesperson for Royal London confirmed the departures and said they were prompted by 'the duplication of teams and the decision to locate all of our fixed income activities in the one team in London' .
Bale will join the sustainable investment team in the North West, which forms a specialist offering for clients and also helps with stewardship and company engagement.