People Moves: Legg Mason, Threadneedle, Hedgebay, UBS – update
Legg Mason hires from Oddo to sell funds into Benelux, Threadneedle appoints two for high yield, Hedgebay promotes internally for European head, UBS hires Dyment from top hedge fund Shumway.
The US money manager is seeking to distribute more of its funds in Benelux with the appointment of Eric Simonnet as sales manager for the region.
He moves from a similar position at Oddo Asset Management, the asset management arm of French private bank Oddo & Cie, where he promoted its funds in Benelux.
At Legg Mason, Simonnet will concentrate on selling the firm’s equity and fixed income funds to third party distributors such as financial intermediaries, asset managers, funds of funds, banks and high end distribution platforms.
Among the funds included are a global fund, an US equities fund, an Asian debt fund accessed in local currency, and a US small caps fund using a contrarian approach.
Parisian-born Simonnet will be based in Legg Mason’s Paris office but travel back and forth to Benelux.
London fund management giant Threadneedle Investments has beefed up its fixed income team by recruiting two high yield specialists.
Due to start in early July, Gareth Simmons and Jenny Wong leave their roles at Morgan Stanley and Putnam Investments respectively to join the asset manager.
Simmons, who has worked for Morgan Stanley since 2006, was latterly a European credit desk analyst covering high yield telecoms and media.
Wong also worked for her previous firm Putnam since 2006 as a credit analyst, specialising in European high yield and covering various sectors.
The latest additions bring Threadneedle’s high yield bond fund to a total of seven, three of whom are fund managers while the other four are analysts.
Barrie Whitman heads the high yield team that offers funds for both retail and institutional investors. He has spent 12 of the 17 years that Threadneedle has existed working for the firm.