Investec Asset Management has recruited Invesco's Michael Markham to run its High Income Bond unit t...
Investec Asset Management has recruited Invesco's Michael Markham to run its High Income Bond unit trust.
Markham's arrival coincides with the departure of the previous managers of the unit trust, Paul Brain and Andy Seaman. They are leaving Investec, along with Mark Johns, to start up a hedge fund venture.
Paul Griffiths, head of fixed interest at Investec, who himself joined from Invesco last July, said he had been keen to recruit Markham, regardless of whether Brain or Seaman were leaving.
Markham, who is AAA rated by S&P Fund Services for the Invesco Gilt Fund, a Dublin-based Oeic product, was head of UK government and corporate bonds at Invesco and helped David Hughes to run Invesco's European High yield unit trust, concentrating on credit analysis.
His departure means that Invesco's UK fixed interest team will now become part of the global bond desk headed by Mark Dowding.
Griffiths, who himself is AAA rated, said the arrival of Markham helped to recreate a significant part of the team he used to work with at Invesco. At the start of October 2000 Griffiths hired Mike Watts, until then a bond trader at Invesco and previously at GT.
Markham's role at Investec will be to head up high yield and credit analysis in general.
Investec has some £7.5bn in fixed interest assets under management.
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