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Fund Flash: BlackRock and Wells reshuffle bond teams

Fund Flash: BlackRock and Wells reshuffle bond teams

Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications.

BlackRock reshuffles top credit roles

BlackRock has reshuffled two top credit portfolio manager positions.

Citywire A-rated Jeffrey Cucunato, the leader of the firm’s US investment grade credit team, is to take on a newly created role as lead portfolio manager of multi-strategy credit within the firm's growing bespoke investment unit.

Stephen Bassas, head of Americas liability driven investing, is to take over as head of US investment grade credit and be lead portfolio manager for the team by the end of the year.

Cucunato is currently a named manager on the BlackRock Allocation Target Shares Series C portfolio as well as a number of US domestic funds.

Wells Fargo AM names new bond bosses

BlackRock hasn’t been the only firm switching up its fixed income team. Wells Fargo appointed Andy Hunt and Lyle Fitterer as co-heads of its global fixed income business.

The duo replaces David Germany who retired on September 29. In addition to their new responsibilities, Hunt will continue as head of liability-driven investing and global credit and Fitterer will continue as head of municipal fixed income and customized fixed income.

Franklin Templeton multi-manager joins Schroders

Fund analyst Gilles Cozma left Franklin Templeton to join rival asset manager Schroders in a market intelligence role.

Cozma joined Franklin Templeton from TPM Capital in late 2013, having previously held fund analyst roles at Skandia and Pictet.

His appointment coincides with Marc Micoud joining Schroders from BlackRock to also serve as a market intelligence manager. Both will report to Sasha Miller, who oversees the specialist unit which is focused on strategy and aiding, developing and providing intelligence on economic markets.

Pimco hires FX traders from Goldman and HSBC

Newport Beach, California-based Pimco hired two foreign exchange portfolio managers to further its expertise in global currency markets.

Adam Iqbal will join the firm in November from Goldman Sachs and focus on foreign exchange options. 

The firm also appointed Michael Davidson, who will specialize in emerging market local rates and currencies. He previously worked at HSBC as an emerging markets rates trader, focusing on Polish and Hungarian rates.

Candriam appoints global investment solutions chief

Luxembourg-based firm Candriam Investors Group promoted Koen Van de Maele to global head of investment solutions.

In his new role Van de Maele will be responsible for developing tailored investment solutions and analyzing product portfolios. He previously oversaw the investment strategy of the firm’s bond portfolios.

This is as well as contributing to the innovation and development of ETFs in the IndexIQ range in Europe. He will report to Naim Abou-Jaoudé, who is CEO of Candriam.

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