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US firm raids German AM to assemble new bonds unit

US firm raids German AM to assemble new bonds unit

Eaton Vance has expanded its international asset management offering with the creation of a five-strong fixed income team based in Frankfurt.

The US-based company has hired experienced investors Astrid Vogler, who will lead the team, along with portfolio manager Roman Kostal and three other members formerly with Oechsle International Advisors.

This newly-formed unit will sit within the wider Global Income group, which is co-led by Michael Cirami and Eric Stein.

Vogler takes on the role of vice president and lead portfolio manager of Eaton Vance Management International and reports to Cirami and Stein.

Prior to joining the group, Vogler was head of fixed income at Oechsle during a 27-year stint at the company. She was previously vice president at ABD International Management Coporation, a subsidiary of Dresdner Bank.

Meanwhile, Kostal joins the group as vice president and portfolio manager, reporting to Vogler.

Kostal leaves Oechsle after 17 years at the group, where he was a fixed income portfolio manager and research analyst. He had also held a portfolio manager and analyst role on the global fixed income team at Deutsche Asset Management in Frankfurt.

At present, the team advises $830 million and will continue to be based in Frankfurt. It will advise its legacy client mandates, which have been assumed by Eaton Vance.

Commenting on the hire, Payson Swaffield, CIO at Eaton Vance Management, said: 'The hiring of the former Oechsle fixed-income team in Frankfurt is a meaningful extension of our global fixed-income investment management and client service capabilities.

'Located in the largest economy in the eurozone, the team’s focus on developed fixed-income markets globally complements our strong research and investment capabilities in emerging and frontier markets.'

With the new addition, the Eaton Vance Global Income group now has 45 employees, spread across four locations and manages $17 billion in client assets.

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