Hannah Strasser, Anne Yobage and Tom Kelleher were hired as senior portfolio managers at AXA Investment Managers, where they will form the core of AXAs high-yield team. Ms. Strasser and Ms. Yobage, co-founders of Cardinal Capital Management, were on Cardinals high-yield group along with Mr. Kelleher. They have been together for nine years, managed about $175 million in high-yield assets and will remain based in Greenwich, Conn.
Executives at Cardinal, meanwhile, will focus on the companys other investment strategy, small-cap value, which has about $375 million under management. Amy Minella, another co-founder, will remain at the company. The departures of Ms. Strasser and Ms. Yobage will free up capital, enabling Ms. Minella to extend equity ownership to other executives at the mostly institutional money manager, Ms. Yobage said.