Old Mutual Global Investors is set to expand its footprint in emerging market debt with the hire of former Threadneedle manager John Peta.
Mr Peta was hired by Threadneedle in October 2012 but left the group in January last year. He will now take up the role as head of OMGI’s emerging market debt team.
The group said Mr Peta would run its $150m (£100.8m) Old Mutual Local Currency Emerging Market Debt fund from April 20 and that OMGI would “review” the manager of the $250m Emerging Market Debt fund and “may announce any recommended change at a later date”.
Both funds are sub-funds of the Dublin domiciled Old Mutual Global Investors Series and are currently sub-advised by Stone Harbor Investment Partners LP.
The move comes shortly after the group Joshua Crabb from BlackRock and Diamond Lee, a former Ignis manager, to spearhead its push into emerging market equities.
Prior to Threadneedle, Mr Peta worked at Boston-based Acadian Asset Management, where he was head of emerging market debt, having joined the firm in 2007.