Fidelity has hired Sajiv Vaid from Royal London Asset Management (Rlam) to work alongside Ian Spreadbury.
Mr Vaid is set to join Fidelity in August and will become co-manager of the Fidelity MoneyBuilder Income and Fidelity Extra Income funds.
Mr Vaid is currently manager of the Royal London European Corporate Bond and Royal London Corporate Bond funds, as well as a range of other fixed income mandates.
Rlam said head of fixed interest Jonathan Platt, who is currently co-manager with Mr Vaid on the Corporate Bond fund, would assume responsibility for Mr Vaid’s portfolios.
In a statement, Rlam said: “RLAM’s collegiate approach means that other managers and investment specialists are well-positioned to continue managing the portfolios affected.
“Jonathan Platt, RLAM’s Head of Fixed Interest, is co-manager of the Royal London Corporate Bond fund. As a result of Sajiv’s departure, Jonathan will now have sole responsibility for this fund and will also take over the day-to-day management of Sajiv’s other portfolios.”
