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Six in and three out in Aviva multi-asset restructure

Six in and three out in Aviva multi-asset restructure

Aviva Investors has hired six managers as three exited amid a wave of change within its multi-asset team.

The company recently restructured its multi-asset team, integrating its global rates and emerging market debt teams alongside other asset class specialists under the banner of the multi-asset and macro. 

The firm told investors: 'Within liquid markets, there are areas where there is overlap in terms of the investment approach, most obviously in rates, multi-asset and emerging market debt.

'Bringing these teams together will result in a single macro investment process across the business and facilitate idea generation across our AIMS range, long-only multi-asset portfolios and our component funds in rates and EMD.' 

Former multi-asset head Peter Fitzgerald (pictured) has been appointed chief investment officer to head the newly combined multi-asset and macro business.

The re-shuffle saw Dan James global head of fixed income, Brendan Walsh and Gavin Counsell leave the business.

Counsell is to join Allianz Global Investors in August and will manage UK multi-asset portfolios, reports our sister publication Selector.

However, the firm has made a string of hires to complement the change. Mark Robertson will join Aviva Investors in September as head of multi-strategy funds.

Reporting directly to Fitzgerald, Robertson will be a named manager on AIMS Target Return, AIMS Target Income and AIMS Fixed Income, ensuring consistency across the entire AIMS range.

He joins from NN Investment Partners in the Netherlands, where he was head of multi-asset portfolios.

Alongside him, multi-asset portfolio manager, Kevin O’Nolan joins from Fidelity, reporting to Sunil Krishnan, head of multi-asset funds.

Guillaume Paillat joins from First State Investments as a multi-asset manager and will also report to Krishnan.

Derivatives trading specialist Patrick Bartholet joins from Societe Generale while Katarina Cohrs, multi-asset strategist, joins from UBS.

David Nowakowski joins from Barings. He has wide-ranging experience in fixed income and currency strategies, with particular expertise in emerging markets.

The shakeup also included a number of internal moves. James McAlevey, currently a senior portfolio manager on AIMS Fixed Income, was promoted to head of rates and will also become a named manager on AIMS Target Return. He will remain a named manager of AIMS FI.

Ahmed Behdenna will move from investment strategy to become a named manager on AIMS Target Income.

In addition to the mutli-asset changes the firm also established a new credit unit under the stewardship of Colin Purdie, who has been promoted to CIO of credit. 

'Colin was the obvious choice for the role, having been instrumental in shaping our investment process since being appointed Head of Global Investment Grade Credit in 2014,' Aviva stated. 

'Separating Credit from Rates is logical because fund managers and analysts think about issues at an enterprise rather than macro level. In fact, there are more obvious synergies at a micro level between Credit and Equities.' 

The establishment of a separate Credit unit, the firm's distinct business Fixed Income will no longer exist, with this the role of global head of fixed income became redundant leading to the departure of Dan James mention above. 

Aviva Investors announced last month that it would combine its real estate, infrastructure and private debt businesses to create a £37 billion real assets business.

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