Legal & General Investment Management's Richard Hodges will take on the management of three additional fixed income funds totalling £2bn in assets, after existing manager Michel Canoy opted to exit the business.
Theo Zemek is to exit AXA Investment Managers, handing over her responsibilities to new hire John Porter.
Seven of the UK's largest asset managers are teaming up to gather information on end investors' needs in a move which could trigger changes to their fund ranges.
Bill Gross' Pimco Total Return fund has lost its position as the largest mutual fund in the world after investors pulled over 13% of assets from the fund since the summer.