UK – Allianz’s PIMCO has hired Peter Bentley from Morley Fund Management as UK corporate bond portfolio manager.

Bentley, who used to work as a credit fund manager at the London-based Morley, succeeds Jamie Stuttard, who took over Schroder’s institutional corporate bond portfolio in September.

A successor for Bentley, who is due to start in February, will be recruited “in the next couple of months,” said Morley’s head of consultant relations, Shona Whitesmith. In the meantime, his responsibilities “will be shared by the rest of the team”.

In his new role at PIMCO, the fixed income arm of Allianz Dresdner Asset Management, Bentley will report to Robert Mead, the head of European investment grade and Emanuele Ravano, the head of portfolio management in Europe.

Ravano said Bentley’s appointment underlined the company’s “continued objective to enhance our investment resources and depth of experience in the UK and European fixed income markets”.

PIMCO was recently awarded a 218 million-euro inflation-linked mandate by the Blue Sky Group, which manages pension assets for KLM Royal Dutch Airlines

The mandate would be benchmarked against a customised euro-hedged Barclays Global Inflation Linked Bond Index, the asset manager said.