Former M&G corporate bond manager James Gledhill is to join Morley Fund Managers to manage mainstrea...
Former M&G corporate bond manager James Gledhill is to join Morley Fund Managers to manage mainstream and corporate bond investments.
Gledhill used to run some £1.5bn in assets at M&G when he was lead manager of its corporate bond fund and high yield portfolio.
When M&G's parent company, Prudential and the M&G fixed interest teams were combined last year, Gledhill stepped down from running the portfolios and moved over to PPM Ventures, the group's private equity arm.
It is understood Gledhill wanted a change and was anxious to go back to running fixed interest assets. He will join Morley on 1 January next year.
Paul Mingay, head of the credit team at Morley, said that Gledhill had not been recruited because of his retail experience but acknowledged that it would be an advantage.
The group has denied that Gledhill has been recruited to manage its well-known Monthly Income Plus portfolio, which is managed by Mark Gull, who took it over from Hugh Everitt more than a year ago.
Morley has also boosted its US equity team in Boston with the recruitment of two further fund managers, who will join in December.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till