Kames lassos another analyst as it rebuilds credit team

Fund group has yet to find replacement managers since string of departures

Kames Capital has added another credit research analyst to its fixed income team as it rushes to rebuild following a string of senior manager departures.

Bjorn Norrman joins the asset manager from Fitch Ratings, where he worked for eight years, most recently as a senior director heading up its Nordic credit research coverage. He has 12 years of industry experience.

‘We will move quickly’

Norrman is the second person to join the depleted Kames fixed income team in a matter of months.

Before the Christmas holiday the firm recruited senior credit man from Aberdeen Asset Management Laurent Frings to head up its credit research operation.

At the time Kames said it was looking to strengthen its fixed income team “where appropriate” to recover from last year’s quadruple manager exit which included the departure of one of its co-heads Stephen Snowden.

Kames’ fixed income losses began last year when former co-heads David Roberts and Philip Milburn left the firm for Liontrust. Since then it has also lost head of rates John McNeill and investment grade credit analyst Paul Dilworth who departed earlier in 2018.

Kames chief investment officer Stephen Jones said the recent hires are evidence of the group’s commitment to broaden and strengthen its 22-person strong fixed income group.

“We will move quickly and decisively to reinforce the team when we identify a suitable candidate to fit into our team based investment approach,” he said.

No manager replacements yet

Kames has not yet found replacements for the managers who left in November. There are currently 13 managers within the fixed income team.

Norrman will work alongside the financial credit research team, including Frings, Alex Pelteshki and head of credit Iain Buckle. He will report to Kames’ head of fixed income Adrian Hull (pictured).

Hull said Norrman will be “a valuable addition” to the team and work alongside the investment managers to develop ideas and strategies for the funds.

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