Manulife Investment Management has shaken up its emerging market fixed income desk under a new CIO Endre Pedersen to integrate the firm’s local resources worldwide.
On Monday the asset manager revealed Pedersen (pictured) would be stepping into the newly created position of CIO of global emerging market fixed income, alongside a raft of promotions.
Under the restructure Pedersen, who has 22 years of experience in the EM debt space, will now lead a team of 66-person team with $46bn in assets under management.
The shake-up is designed to further align the global emerging market fixed income team after several strong years of growth for its strategies. It will result in improved efficiency in meeting product demand and performance needs for clients, according to Manulife.
John Addeo, CIO of global fixed income, said: “Today, we have one of the largest fixed-income teams in Asia, and this enhancement under Endre’s leadership, will result in one of the largest and most experienced teams in the industry.”
Addeo added: “This local insight – paired with deep investment expertise – has become increasingly important to investors facing a scarcity of income opportunities.”
Alongside Pedersen, Fiona Cheung has been appointed head of global EM fixed-income research and Don Tucker has been made head of global developed market fixed-income research from his role as head of US fixed-income research.
Additionally, Joseph Huang has been promoted to head of South Asia fixed-income research and Nick Pena has been promoted to sector leader of the EM fixed-income research team.
Pederson said: “These actions are a testament to the critical role emerging markets play in today’s fixed-income landscape and the deep pool of talent in our investment organisation.”
