Nick Gartside is leaving his position as head of global fixed income at Schroders to join rival JP Morgan in the same position.
After eight years with the business, Gartside will hand management of the £235 million Schroder Strategic Bond, ISF Global Bond and ISF Global Inflation Linked Bond funds to Bhupinder Bahra and Frederick Bourgoin with immediate effect.
A £1,000 investment in the Schroder Stratgic Bond fund would have grown to £1,139 in the five years to the end of July 2010, according to Trustnet.
Gartside moved to Schroders in 2002 to look after the company’s European government bond portfolio before moving to the global bond team portfolio manger in 2007.
It was in September 2008 when Gartside hit the industry spotlight by taking over management of the £324 million Schroder Strategic Bond Fund.
The previous head of fixed income, Bob Michele had joined JP Morgan as chief investment officer for fixed income.
It is envisaged that Gartside will stay with Schroders until the end of this year while the business completes its handover.
Karl Dasher, head of fixed income at Schroders said, 'Schroders’ commitment to fixed income remains deep and unambiguous and we continue to look at options to strengthen the team.
'Our investment team has an average of 15 years’ investment experience, supported by over 100 fixed income professionals.
'Our approach encompasses a globally integrated team of specialist analysts and portfolio managers, researching ideas in local markets to provide a performance advantage. This is key for our multi-strategy funds such as these, where regional managers have delegated ownership for local investments.'