BNY Mellon has hired currency specialist Federico Garcia Zamora from rivals American Century in order to oversee its planned currency-focused absolute return fund.
Zamora, who will report to Euro Stars AAA-rated manager David Leduc (pictured), will join the firm’s Boston-based fixed income specialist Standish Mellon Asset Management.
The proposed Alternative Ucits fund is part of Standish’s plans to further expand its product offering, although a date has yet to be set on when the currency absolute return strategy will be launched.
In his new capacity, Zamora will make investment recommendations in global currencies in single sector and multi-sector fixed income strategies.
Prior to joining Standish, Zamora served as co-manager of international fixed income, global fixed income and strategic inflation opportunities at American Century Investments.
He had also previously served as currency strategist and portfolio manager in the asset management arm of Lehman Brothers.
Commenting on Zamora’s appointment, David Leduc, Standish CIO, said: ‘Federico has extensive experience developing and implementing currency and currency overlay strategies using both quantitative and fundamental investment approaches.’
‘He joins our growing team of experienced investment professionals supporting our global, emerging, opportunistic and absolute return investment strategies.’