London-based Morley Fund Management has lost its principal high-yield bond fund manager, Andre Mazzella, to hedge fund CQS Management in London. Mazzella could not be reached and Michael Hintze, ceo of CQS, referred calls to a spokesman who declined comment.
Mazzella's departure follows that of Chris Higham, credit analyst at Morley, who is due to join London-based Old Mutual Asset Managers in June in the same role. Old Mutual is planning to launch a fixed-income hedge fund later this year, according to Higham.
At Morley, Mazzella reported to Paul Mingay, head of corporate credit investments. Mingay said managers of other Morley funds that include high-yield investments will pick up Mazzella's responsibilities for now but noted Morley is planning to replace both Mazzella and Higham.