Schroders' interest rate chief exits

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David Scammell, head of UK and European interest rate strategies at Schroders, has left the firm.

The former Euro Stars AA-rated manager, who joined Schroders in 2004, managed a raft of funds including the €350 million Schroder ISF EURO Government Bond fund which he ran until last summer.

The fund was taken over by his former colleague Tom Sartain in August 2012.

Schroders said it has evolved its fixed income investment desks into ‘a fully-integrated, team-based approach.’ As a result of Scammell's departure, it has reassigned his portfolios across the team, meaning his role no longer exists.

Among his UK-domiciled funds, the Global Inflation Linked Bond fund will now be managed by Schroders’ global multi sector team, headed by Bob Jolly and Gareth Isaac.

The Euro Liquidity fund will be handed to Jamie Fairest as lead manager, with Tom Sartain and Jolly as alternates.

Sartain will also managed the Gilt and Fixed Interest fund, with Isaac as alternate.

Karl Dasher, global head of fixed income, said: ‘Today our approach encompasses a globally integrated team of over 100 specialist analysts and portfolio managers in London, New York and Singapore.

‘By working together and researching ideas in local markets we believe we will be able to provide a performance advantage to our clients.’

Prior to Schroders, Scammell worked at the United Bank of Kuwait as a portfolio manager, which he joined in 1998.

He has also worked at the Central Bank of Finland, the Bank for International Settlements, as well as the Bank of England, accruing more than 15 years of investment experience.