Forrester is currently on gardening leave after leaving AXA IM’s London office in recent weeks. She will join US headquartered MFS as the UK head of institutional business within its London office later this year, IPE understands.
The move ends an almost three-year career at AXA IM with Forrester joining as head of institutional sales in November 2011, before being promoted to head of UK institutional in August last year.
Before AXA IM, Forrester, an Oxford graduate, had 16 year stint at London-based rival Threadneedle Asset Management, leaving as head of the global institutional group after joining as a fixed income portfolio manager in 1995.
Forrester also held fund manager and fixed income sales roles at JP Morgan and UBS, repsectively.
AXA IM confirmed Forrester’s departure and wished the former head all the best for the new role.
“Over the past few years we have built a very strong institutional team in the UK and we remain totally committed to this market.
”We are in the process of recruiting a replacement for Madeline and in the meantime her responsibilities are being managed by the UK team,” a spokesman added.
A spokesman for MFS Investment Management declined to comment when contacted by IPE.