UK – The head of fixed income at Aegon Asset Management UK, Malcolm Jones, has left the company.

A spokesman for Aegon said Jones had left by “mutual agreement”. Jones had been with Aegon (previously Scottish Equitable) for 15 years, and had held the role of head of fixed income for the last three years.

Mark Zinkula, head of fixed income for Aegon’s US operations, will replace Jones, while retaining his US role. There he manages a team of 40, responsible for around 100 billion dollars of assets. Zinkula will be re-locating to Edinburgh where Aegon UK is based, in the next few weeks.

The decision to replace Jones with Zinkula is a result of Aegon’s desire to re-align the company to have a more global structure. The spokesman said there is a growing need within the fixed income business to adopt a global perspective. He described the move as “the next stage of development for Aegon”.

Aegon UK manages around 30 billion pounds (43 billion euros) in assets under management, of which 15 billion pounds (21.5 billion euros) is invested in fixed income.