Schroder head of global fixed income Nick Gartside will leave the firm at the end of the year and is joining JP Morgan as head of fixed income.
Gartside, who runs some £750 million of assets at Schroders, will be reunited with Bob Michele, who left the group for JP Morgan in 2008, where he is chief investment officer for fixed income.
Gartside (pictured) will be replaced on the Schroder Strategic Bond fund, ISF Global Bond fund and Institutional Bond fund with immediate effect by former Barclays pair Bhupinder Bahra and Frederick Bourgoin.
The duo will also take the reins of the Schroder ISF Inflation-linked Bond fund, alongside head of UK & European interest rate strategies David Scammell.
Schroders said that Gartside would remain with the firm until the end of the year to help with the transition. Over the last year the Schroder Strategic Bond fund has returned 9.9% compared to the average manager's 16.3% to the end of August.
Bahra joined Schroders in 2006 and has 16 years investment management experience. Prior to Schroders, he worked at Barclays Global Investors (BGI) and the Bank of England.
Bourgoin also joined from BGI in 2006 having previously worked at UBK Asset Management. Both will continue to report to Schroders head of fixed income Karl Dasher.
Scammell has more than 20 years’ investment experience, including 10 years working for a number of central banks, including the Bank of England and the Bank for International Settlements in Switzerland. He will continue to report to head of European and UK fixed income Jamie Stuttard.
The group said the style of the funds would remain unchanged and would continue to employ a team-based investment approach.
Schroders head of fixed income Karl Dasher said: ‘Schroders’ commitment to fixed income remains deep and unambiguous and we continue to look at options to strengthen the team. Our investment team has an average of 15 years’ investment experience, supported by over 100 fixed income professionals.’
The firm’s global head of intermediary, Richard Mountford, said: ‘We have a growing global fixed income team with a great combination of experience and talent to bring to these funds. I am confident we can continue to deliver competitive performance that our clients have come to expect.’