Neuberger Berman has expanded its European fixed income capabilities with the hire of five portfolio managers and one quantitative analyst from BNP Paribas, as the firm plans to roll out new funds and strategies.
Led by former BNP Paribas CIO of euro sovereign and aggregate fixed income, and 30-year investment veteran, Patrick Barbe, the Paris-based team will be responsible for the management of around €49bn (£43.8bn) in AUM.
Barbe is joined by portfolio managers Yanick Loirat, Vito Cavaliere, Antonio Serpico, and Sergejs Prala, and quantitative analyst Leang You Tran.
CIO of fixed income Brad Tank said Barbe and his colleagues are "recognised leaders in European fixed income investing" and their addition "enhances and strengthens our integrated, global fixed income franchise".
He added: "They share our dedication to working closely with clients and have a long history of tailoring portfolios to each client's specific needs."
Neuberger Berman, which operates a global fixed income platform of $133bn (£102.7bn) in AUM, said in a statement it "intends to launch a number of European fixed income funds and strategies", within "the coming months".
Barbe, who will serve as senior portfolio manager, said "Neuberger Berman is an investment-focused firm with a rapidly growing franchise in Europe.
"I am pleased to be joining an organisation with a rigorous research and process driven investment approach that values strong collaboration across investment centres around the world."
Head of EMEA and Latin America at Neuberger Berman Dik van Lomwel (pictured) added: "We are delighted that Patrick and his team have chosen Neuberger Berman, bringing dedicated regional fixed income expertise to our global platform and further enabling us to best meet our clients' needs.
"They will be located in our Paris office, thereby adding a new European investment hub to our regional footprint, which includes investment operations in London, Milan, and the Hague."
Purchased for undisclosed sum
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