Jobs roundup: Fund manager musical chairs

A weekly snapshot of movements in the job market:

Fund managers were playing musical chairs last week. Several hired new staff to fill empty spaces left by people who had moved on.

Fixed income was the main area of activity. Schroders, the UK fund manager, hired two fixed income bond managers - Mark Parry and Jamie Stuttard - to occupy seats left vacant when three members its UK bond team defected to Insight Investments in July.

Schroders now has around 70 fixed income staff in London.

Filling gaps of its own, Insight Investments, the fund management arm of HBOS, hired two multi-managers from UBS. Insight in recent weeks lost its team of five multi-managers to Gartmore, a rival fund manager.

An empty seat also prompted SEI Investments, a multi-manager, to add to its London fixed income team. SEI hired a senior fixed income analyst to replace a member of its bond research team, who returned to the US. The fund now has 8 staff in its London global investment management team.

Lombard Odier Darier Hentsch, the Swiss private bank and asset manager, appointed a new fixed income manager to its fund management team. The move follows a number of departures and redundancies at the company earlier this year.

Increasing staff numbers rather than just filling gaps, Threadneedle Investment made its third fixed income hire in three months, adding an investment grade analyst to its fixed income team.

Beyond fixed income there was some movement in the equities job market, both in the fund management and banking sectors. Morgan Stanley Investment Management (MSIM) made two hires for its London-based global equity team, as well as transferring three people internally to work in portfolio management and analyst roles.

Teather and Greenwood, the brokerage, also showed renewed interest in equities hiring, only months after a bout of cost-cutting. It hired three equities analysts to boost coverage of key research areas.

It was not all one-way traffic, however. M&G, the asset management arm of UK-based Prudential, cut two managers and an analyst from its equity team.