Paul Grainger, who until recently was head of global fixed income and currency at Schroders, has resurfaced at Neuberger Berman as a senior portfolio manager.
Grainger has more than 25 years of experience. Before spending eight years with Schroders, he worked for the Boston-based firm Wellington Management and was its first investment professional located in London. Earlier in his career, he managed global, European and UK bond portfolios for F&C Asset Management and Gartmore.
Neuberger Berman’s global bond team manages $232bn and is led by Ashok Bhatia and Brad Tank. Bhatia, who serves as co-chief investment officer, fixed income, said: “Paul is a highly respected portfolio manager and leader. He adds depth and breadth to our growing fixed income platform, bringing a proven track record.
“As we see the global impact of changing interest rates, geopolitical tensions, and economic uncertainties, Paul enhances our understanding and portfolio construction.”
Grainger described Neuberger Berman’s investment approach as “collaborative and research driven” and said he was looking forward to “helping investors capitalise on fixed income opportunities in a dynamic environment, while building on the firm’s continued momentum”.
Grainger left Schroders in September, hot on the heels of Andrew Chorlton, head of fixed income. Chorlton has joined M&G Investments to lead its £139bn fixed income division, replacing Jim Leaviss, who moved into academia.
Instead of replacing him directly, Schroders created a new fixed income leadership team in July, consisting of Julien Houdain (head of global unconstrained fixed income), Patrick Vogel (head of credit, Europe), Lisa Hornby (head of US multi-sector fixed income), Abdallah Guezour (head of emerging market debt and commodities), Patrick McCullagh (global head of credit research) and Andrew Moscow (head of fixed income management).