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Morley fixed income chief leaves for rival

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UK – The head of fixed income at Morley Fund Management, Peter Rains, has left and is being replaced by Ceris Williams.

Rains officially leaves Morley at the end of March and is believed to be joining another London-based fund manager. He joined Morley in 1988.

Williams, currently head of sovereign bonds at Morley, will take over from Rains, reporting to chief investment officer Gerry Holtham. Prior to joining Morley last year, Williams was head of fixed income at Rothschild Asset Management.

Reporting to Williams will be head of treasury, Tim Lucas, head of corporate credit investments, Paul Mingay, head of sovereign products, Shahid Ikram, and head of gilts, Kevin Lorkins.

Rains also held the position of head of alternative investment business development which will now be split between three divisions.

Morley Fund Management, part of financial services group Aviva, has over 105 billion pounds in assets under management, 50 billion pounds of which is invested in fixed income and cash assets.

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