Insurance giant Friends Life has hired the former LV= fixed income team to run portfolios at its new asset management business.
George Soros' fund has purchased around $2bn of European government bonds previously held by collapsed brokerage MF Global, according to reports.
Manager plays yield curve and looks for ‘dull' core holdings in long-standing fund.
M&G has promoted recent hire James Tomlins to lead manager on its European High Yield Bond fund.
Lloyds Banking Group has offered to exchange £4.9bn of its outstanding bonds in order to raise new capital.
Key eurozone sovereign debt yields have fallen sharply after successful debt auctions and comments from ECB president Mario Draghi boosted investor confidence.
Bill Gross' $240bn Pimco Total Return fund has fallen behind 92% of his bond manager peers in terms of calendar year performance.
Leading fund managers believe gilts now look like the next safe haven bond market to come under threat ahead of DMO sale this week.