Money Management

Janus Henderson head of interest rates departs

Fixed-income managing director to retire in June

Mitul Patel, head of interest rates at Janus Henderson Investors, has left the firm, a spokesman said.

"Mitul Patel was made redundant," the spokesman confirmed. Mr. Patel's position will not be filled. "Under the leadership of Chris Diaz, portfolio manager and head of global aggregate, and Nick Maroutsos, global macro portfolio manager, we have created a global bond team that brings together the management of global multisector and macro (and) rates-driven strategies," the spokesman added.

In addition to being the head of interest rates, Mr. Patel had been a member of the fixed-income investment strategy group since 2015.

Separately, Phillip Apel, managing director for fixed income, will be retiring after 13 years at Janus Henderson. He will leave the firm at the end of June.

James Cielinski, global head of fixed income, will lead the corporate credit team, which had previously reported to Mr. Apel. Mr. Cielinski has focused on business leadership and asset allocation since April 30.

Janus Henderson has $371.9 billion in assets under management.