Ignis Asset Management's head of fixed income Joe McKenna has left the firm as the group announces a number of high-profile departures.
McKenna, the Ignis Corporate Bond fund manager, has seen his £309m vehicle decline 21.3% over the year to 8 December, ranking it 83 out of 87 vehicles in the IMA £ Corporate Bond sector, according to Morningstar. The firm's head of credit Chris Bowie will assume control of the fund.
Ignis says it is looking to outsource its £400m Japanese mandate, with Stuart Dickson taking the reins until a deal is completed.
Recently formed by the merger of Resolution Asset Management and Pearl's Axial, Ignis' redundancies will reduce its headcount by about 7% to 422.
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