Theo Zemek is to exit AXA Investment Managers, handing over her responsibilities to new hire John Porter.
Zemek, who moved to the group as global head of fixed interest from New Star, has been at AXA IM since 2008.
In late 2011 she stepped back from running money, handing over the AXA Sterling Corporate Bond fund so she could concentrate on her role as global head of fixed income, managing a team of 80.
John Porter, who has joined from Barclays, will become a member of AXA IM's Management Board and report to CEO Andrea Rossi.
"We are thrilled that John will be joining us to oversee the next stage in the growth of our Fixed Income division. He has had a very diverse and hugely successful career and brings with him extensive experience from across the fixed income spectrum, as well as a strong understanding of the challenges facing our clients", said Andrea Rossi, CEO of AXA IM.
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