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Lombard Odier IM bond chief exits amid restructure

Lombard Odier IM bond chief exits amid restructure

Lombard Odier Investment Managers has named a new chief investment officer for fixed income amid a restructuring of its bond operations, Citywire can reveal.

The Swiss asset manager said Kevin Corrigan, who is head of fundamental fixed income, has opted to leave the firm, after having spent two years in the role.

Corrigan had served during a transitionary period that saw the firm’s head of Swiss fixed income, Yannik Zufferey, moved to the new role of chief investment officer for fixed income.

The Geneva-based company has already announced plans to consolidate operations in April of this year, which saw the fundamental fixed income, Swiss fixed income and Asian bond teams combined.

This will fall under the stewardship of Zufferey, who is a named manager across 16 fixed income funds covering Swiss and European bonds, among others, at the asset manager.

Corrigan had originally joined Lombard Odier in 2010 and served as head of credit before becoming head of fundamental fixed income in 2014. He is replaced by Zufferey on the bulk of funds he had overseen during his tenure.

Commenting on the changes, Jan Straatman, CIO of Lombard Odier IM, said: ‘The world of fixed income has changed and uncertainty created by low yields, increased market risk and fractured liquidity means we are constantly evaluating how we develop our business to best benefit our clients and deliver investment guidance from a global perspective.’

‘The reorganisation of our fixed income capabilities allows for closer collaboration of internal resources and gives us capacity to provide clients with greater investment coverage across the corporate, developed and emerging bond markets.’

Lombard Odier IM said it has continued to grow its fixed income capabilities and named it a key building block in guiding the firm’s future.

The Fundamental Fixed Income strategies were launched in 2010 to focus on quality and credit default mitigation and all fixed income assets now account for more than CHF 16 billion (€14.8 billion).

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