Swip head of UK and European credit Daniel McKernan is set to leave the group after the summer.
Standard Life Investments announced today that McKernan will join the group as head of sterling investment grade credit in autumn 2013.
McKernan currently manages the £1.4bn Swip Corporate Bond Plus fund and the £184m Swip European Corporate Bond fund, as well as undertaking responsibility for investment grade credit research and institutional investment management teams.
Prior to joining Swip in February 2011, McKernan spent five years at Blackrock, where he most recently held the position of director of fixed income and senior credit portfolio manager. He has also previously worked as head of credit at Aegon Asset Management.
As part of his new role at SLI McKernan is set to take lead responsibility for the group’s £612m Corporate Bond fund and a number of large credit mandates.
He will report to Craig McDonald, who has is due to take over as head of credit following the retirement of Andrew Sutherland at the beginning of July.
A spokesperson from Swip says: ”Daniel has a long notice period and will remain in role throughout the summer. We will, therefore, use this time to review roles within the team and consider how Daniel’s responsibilities will be managed in the future.
“We wish Daniel all the best for the future.”
SLI head of multi-asset investing and fixed income Euan Munro says: “With over 20 years’ experience as a fixed income credit manager, Daniel’s skills will add to the already impressive range of knowledge and experience within the Fixed Income team.
“Daniel has a proven track-record in managing and developing high profile retail and institutional accounts and will complement the strong team that is already in place.”