F&C in bond team restructure

F&C has confirmed plans to integrate its high yield and Thames River credit teams, which has seen the departure of bond fund manager Fatima Luis.

Three other bond team members have also left the asset manager, which has continued to make cuts under executive chairman Edward Bramson’s plans to reduce costs.

Integration of the teams will be overseen by head of global credit opportunities Keith Patton.

Luis was manager of the £54.5m F&C Maximum Income Bond fund and co-manager on the £101.3m F&C Extra Income Bond and £220.7m F&C Strategic Bond funds, with Rebecca Seabrook. She was joined in departing the asset manager by Han Altink, Mario Hooghiemstra and Leendert Schoenmaker.

Thames River global credit head Steve Drew has also left the company, with Simon Holmes set to take over his portfolios.