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Exclusive: HY head exit prompts bond unit reshuffle

Exclusive: HY head exit prompts bond unit reshuffle

Citywire + rated manager Regina Borromeo has left Brandywine Global and relinquished her role as head of international high yield, Citywire Selector can reveal.

Borromeo, who joined the Legg Mason-owned fixed income boutique in 2010, has stepped down to pursue opportunities elsewhere within the asset management industry, a spokesperson confirmed.

The move sees Borromeo step down from the several funds, predominantly in the international high yield sector.

Following Borremeo's departure, Tracy Chen retains a lead role on the Legg Mason Brandywine Global Credit Opportunities, Global Defensive High Yield and Global High Yield funds.

Meanwhile Jack P. McIntyre and Anujeet Sareen take on the Legg Mason Brandywine Global Income Optimiser fund, working alongside existing co-managers Gary Herbert and Brian Kloss.

The spokesperson added: ‘The changes in the team reflect our long-term plan to closer integrate the credit and sovereign themes within the portfolio management.’

Borremeo’s best sector-specific performance on a three-year absolute basis is in the global high yield market. She sits 35th out of 171 with a return of 15% to the end of October 2017 which compares to an average manager return of 9.9%.

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