Union Investment hires back Frank Engels to head fixed income

Union Investment has named Frank Engels as its head of fixed income fund management from mid-January, replacing Christian Eckert, who is leaving the German manager of his own wish at the end of the year.

Engels is returning to be managing director of Union’s 46-member fixed income team, which runs about €74bn in total, after a brief time at Barclays Capital, which he joined in October 2010.

There, he was global head of asset allocation strategy and co-head of European economic research.

As the eurozone’s debt problems emerged during his period at the UK-headquartered bank, Engels, who has a PhD in economics, aided Barclays Capital in its research into the eurozone crisis, and advised the bank’s major customers on both strategic and tactical asset allocation.

Before that, from mid-2008 to September 2010, he was head of emerging market debt at Union Investment.

He has also worked at SwissRe in Zurich, and from 1999 to 2002 as an economist at the International Monetary Fund in Washington.

From 2002 he joined the European Central Bank as country expert for Germany, France, the Netherlands and Greece.

He has also been employed by London boutique Thames River Capital, as lead economist on its highly regarded global credit team.

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