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Janus Henderson hit with two more senior PM exits

Janus Henderson hit with two more senior PM exits

Janus Henderson’s head of credit Stephen Thariyan and its leading technology specialist Stuart O’Gorman are set to leave the firm early 2018, against the backdrop of wider changes to the company’s operations.

Their departure coincides with Jim Cielinski being hired from Columbia Threadneedle to serve as global head of fixed income. Cielinski will formally join on 1 November.

Thariyan exit

A spokesperson for Janus Henderson confirmed Thariyan would be stepping down in March 2018 amid a restructuring of bond operations brought on by the merger of the two firms.

Thariyan has spent just over 10 years with the group, having joined from Rogge Partners to run the credit desk in 2007.

During his tenure, Thariyan has been a named manager across a range of bond portfolios, including the Henderson Credit Alpha fund, the Henderson HF Euro High Yield Bond and Henderson HF Euro Corporate Bond funds.

Following Thariyan’s departure, the $2.8 billion Henderson HF Euro Corporate Bond fund will be overseen by existing manager Tom Ross and co-manager Tim Winstone. Ross, along with Tom Hanson, will be responsible for the $285 million Henderson HF Euro High Yield Bond fund.

Ross and Hanson will also remain on the Henderson Credit Alpha fund, which Thariyan and Ross have run since 2007 alongside Chris Bullock, who left in 2013. 

O’Gorman departure

The formerly Citywire AAA-rated O’Gorman had overseen several technology and global equity funds during his tenure and was most recently named on the Henderson HF Global Technology fund, among others.

A spokesperson confirmed that O'Gorman will stay with the company until the end of the first quarter of 2018. It is understood he is then taking a 'career break' which will followed by a pursuit of other opportunities.

His co-manager Alison Porter will remain in a senior role on the technology funds, while Graeme Clark and Richard Clode have also been assigned as portfolio managers within the team. The investment philosophy will remain the same.

For his combined performance across five funds, O’Gorman has returned 47.8% in US dollar terms over the three years to the end of August 2017. This compares to a 39.3% return by the average of the 117 managers active in the global technology sector with a three-year track record.

Several fund managers changes have been made since the two firms announced the merger in October of last year. This includes changes on US equity, Asia Pacific equity and real estate strategies.

This is while Jim Cielinski was also hired from Columbia Threadneedle in late September to serve as global head of fixed income, which saw him displace Janus manager Kumat Paghal in the role.

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