GAM Investments has recruited DWS Group global head of fixed income and FX trading for a newly created role.
Juan Landazabal (pictured) joined GAM as head of global trading on 10 September, reporting to head of investments Matthew Beesley.
In a statement, GAM said Landazabal was brought in to strengthen GAM's infrastructure strategy and processes, as well as counterparty relationships across equities, fixed income and FX.
His appointment comes shortly after GAM launched an investigation into its fixed income absolute return fund manager Tim Haywood, who was suspended in July for breaking the firm's inducement and dealing rules.
An announcement from GAM yesterday confirmed that concerns over Haywood's conduct had been flagged by a whistleblower.
A GAM spokesperson told Wealth Manager that the creation of Landazabal's trading role was not a response to Haywood's suspension.
Instead the firm said the hire was linked to its 'multi-year change programme', which the group had previously flagged in its 2017 annual report.
According to the report, the programme will 'optimise GAM’s efficiency, creating a robust, scalable operating platform aligned with [its] growth ambitions'.
Commenting on the hire, Beesley said: 'The appointment of Juan is an important step in our multi-year change programme.
‘Juan’s appointment reflects our commitment to evolving our execution platform accordingly, and our aim to deliver excellent investment outcomes for all of our clients.’
Landazabal joined DWS in 2013 after a 10-year stint at Fidelity Investments, where he served as a senior credit trader and then as head of fixed income trading.