Three high-yield portfolio managers at traditional bond manager Threadneedle Investments in London are leaving to join hedge fund Moore Capital Management in London. Duncan Farley, Steve Harrison and Steve Wingate have resigned but will be working their three month notice period, according to Richard Eats, spokesman for Threadneedle.
At Moore Capital, the trio will report to Tim Leslie, head of credit in Europe. Leslie referred questions to Lynn Gabriel, spokeswoman in New York, who did not return calls by press time.
Moore Capital recently lost a high-yield manager, Francis Griffin, who has joined Avenue Capital Management in London.
At Threadneedle, executive director Barrie Whitman will continue to head up high-yield investments. Eats said Threadneedle will look for replacements for the trio from the 28-strong fixed income group at Threadneedle before looking to recruit externally.