UK – Merrill Lynch Investment Managers has appointed former Aegon Asset Management UK credit head, Daniel McKernan, as sterling credit fund manager.

McKernan, 36, was based in Edinburgh and left Aegon in August, according to a MLIM spokesperson.

He was at the firm – with more than £36 billion worth of assets under management as of 30 June - after almost eight and a half years.

He was head of credit for his entire time at Aegon, and was responsible for building up the eight-member team.

McKernan started at MLIM in September and reports to MLIM’s director of pan-European credit, Paul Shuttleworth.

“We are delighted Daniel is joining MLIM. He has an excellent track record in managing segregated, pooled, retail and insured mandates, as well as strong business development credentials,” said Shuttleworth.

McKernan’s position at MLIM is an added resource and there have no replacements, said the MLIM spokesperson.

Aegon’s Melanie Mitchell was promoted to McKernan’s position shortly before his departure.

Mitchell, 42, joined the asset managers in 2001. Before that she held senior positions at Abbey National and Chase Manhattan.