Jim Leaviss (pictured) departs M&G after a 27 year career.
Andrew Chorlton will take on the role of chief investment officer of fixed income at M&G Investments in the last quarter of the year, as veteran manager Jim Leaviss departs.
Leaviss, who has been at the firm for 27 years, will leave in the autumn to pursue a career in academia.
Chorlton is currently head of fixed income at Schroders, a position he has held since 2020, and brings more than 25 years' experience in fixed income markets. He will report to M&G Investments CEO Joseph Pinto.
As part of the wider succession, Eva Sun-Wai and Rob Burrows will become co-lead managers of M&G's Global Macro Bond strategy, effective from 1 August 2024.
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Sun-Wai joined the firm in 2018 and has been a co-manager on the fund with Leaviss since January 2021. Burrows joined the firm in 2007 and is a fund manager specialising in government bond and macro fixed income mandates.
Pinto said: "I would like to take the opportunity to pay tribute to Jim, whose influence in the world of bonds has been significant – he should be extremely proud of his career at M&G and of the dynamic and talented team he has nurtured.
"Jim has delivered excellent returns for our clients and his unique way of communicating has always been very engaging with clients, by sharing the team's insights straight from the desk. When Jim leaves later this year, he will go with our thanks for his contribution and our very best wishes as he pursues academic interests."
The CEO added that Chorlton's appointment will help the firm capitalise on the "growth of our global fixed income platform by making strategies managed for our internal insurance client more widely available" to global banks, family offices and pension funds across the UK, Europe and Asia Pacific.
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Leaviss, added: "It has been a tremendous privilege to work at M&G for almost three decades and lead the team through the growth of bond markets during that time. I am really proud of our team of fixed income professionals, the talent we have developed and what we have achieved for clients.
"Innovation is embedded into our culture, with the business having launched the UK's first corporate and high yield bond funds, and how we communicate with clients with the launch of the Bond Vigilantes blog in 2006.
"Our investment range has grown dramatically, of note the launch of the M&G Optimal Income fund which became one of the largest funds in Europe and our leading European credit capabilities that have an excellent reputation with international clients.
"I would like to thank everyone for their support over the years and I am in no doubt that this culture will continue."
