Former M&G bond manager Mike Riddell is to join Allianz Global Investors’ fixed income team next week.
Mr Riddell has been appointed UK fixed income portfolio manager at the firm and will start on October 1, having left M&G this summer after 12 years at the company.
His arrival will see Allianz GI introduce a “regional fixed income focus” in the UK as part of its global fixed income offering, the company said.
Mr Riddell will take over the management of the £965m Allianz Gilt Yield and £70m Allianz Sterling Total Return funds upon his arrival. The portfolios were previously managed by Allianz subsidiary Pimco.
Allianz GI currently manages €147bn (£109bn) in fixed income assets. Fixed income giant Pimco, meanwhile, runs $1.6trn (£1.1trn) in assets.
“[Mr Riddell’s] deep experience of both UK and global fixed income markets will play a central role in building this new pillar in our international fixed income capability.” said Franck Dixmier, global head of fixed income at Allianz GI.
“Hiring such a senior, experienced fixed income practitioner as Mike underlines our ambition for our bond business in the UK.”
Mr Riddell, who blogged regularly as part of M&G’s Bond Vigilantes team, will continue to provide thoughts and ideas online alongside his Allianz GI colleagues as of October.
The former M&G manager will report to Mauro Vittorangeli, Allianz GI’s CIO for conviction fixed income, in his new role.
