Lombard Odier Investment Managers (LOIM) has merged its global and emerging market bond teams partly in response, the firm says, to increased correlations between the assets.
The move also indicates a growing appreciation for the impact of developed market cycles on emerging market risks.
Gregor MacIntosh, head of the new global and emerging fixed income team, says the contagion from the US credit crunch and Europe’s sovereign debt problems means the “division between developed and emerging markets no longer makes sense for investors”.
LOIM has also appointed strategist Salman Ahmed, whose nine years of investment experience include thee years at Goldman Sachs International as a global economist, and more recently a role as head of global macro at EDF Trading.
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