Stewart Cowley, the head of fixed income at Newton, has left to join Old Mutual Asset Managers (Omam) as head of fixed interest and macro in June 2009. As a result of Cowley’s arrival, Andrew Tunks, the head of fixed interest at Omam, will leave the group following a handover.
At Newton Cowley managed three portfolios: the £570m Newton International Bond fund, the £730m BNY Mellon Global Bond fund and the £8m BNY Mellon Sterling Bond fund. Following his departure Newton has appointed Paul Brain as investment leader, fixed income. He takes over the funds that Cowley managed.
As a result of Tunks’ impending departure from Omam, Peter Baxter will assume management of the £88m Omam Select Managed fund. Baxter, Omam’s chief executive and chief investment officer, will lead the fixed interest and macro team until Cowley joins next year.