UK – Credit Suisse Asset Management’s director of UK fixed income, Kevin Adams, is to rejoin Henderson Global Investors.

A Credit Suisse spokeswoman confirmed his departure but said no replacement has been appointed yet.

CSAM – the fourth largest manager of European pension fund assets - has undergone extensive restructuring over the last six months. Adams’ move follows the departure of CSAM’s chief investment officer Larry Smith in May.

Henderson said in a statement that Adams would rejoin the firm on August 4 and will work closely with Daniel Beharall, director of fixed income. Adams previously worked at Henderson between 1996 and 2001.

“We are delighted that Kevin has agreed to return to Henderson,” said John Sharman, global director of fixed interest. The role is a new one and he does not replace anybody, a spokeswoman said.

“His appointment is a clear demonstration of our commitment to deliver a world class global fixed interest capability,” Sharman added. He said the move would allow Beharall to focus on the development of fixed income products.

HGI manages around 25 billion euros of European pension fund assets and manages around 129 billion euros in total. It manages around 45 billion euros in fixed interest for institutional and retail clients.