Craig MacDonald, global head of fixed income at abdrn, is leaving after 22 years to pursue postgraduate studies. Jonathan Mondillo, head of US fixed income, will replace him.
Meanwhile, Marianna Zangerl moves from her role as head of environmental, social and governance (ESG) fixed income to become deputy global head of fixed income.
Two other members of abrdn’s global fixed income team, which manages more than £130bn, are set to take on expanded roles.
Felix Freund, head of European credit, will become the new head of developed market credit and will lead both the European and developed market credit teams. Freund currently serves as co-manager of the £1.6bn abrdn SICAV II Euro Corporate Bond fund alongside MacDonald.
Daniel McKernan, head of sterling investment grade credit, has been promoted to global head of fixed income insurance solutions. McKernan currently co-manages several funds, including the £210.9m abrdn Investment Grade Corporate Bond fund.