NEW YORK — Five months after losing seven people from its high-yield fixed-income team to HSBC Halbis Partners, Credit Suisse Asset Management has assembled a new group of portfolio managers and analysts to manage the strategy.
Martha Metcalf, former managing director and head of global high-yield bonds for INVESCO, Atlanta, began work as lead high-yield portfolio manager at New York-based CSAM on Aug. 29, said Dennis Schaney, managing director and head of global fixed income.
Ms. Metcalf will oversee a team that includes analysts Michael Plancey and Erik Brovig, who came from Blaylock & Co. Inc., New York, and UBS AG's Stamford, Conn., office, respectively. Katie Neff, formerly an assistant trader for Credit Suisse First Boston, New York, will be an assistant trader on CSAM's high-yield team, while GreyHarris will remain on the high-yield team as a trader.
"Our plan in high yield, even before the previous team left, has been to have a more integrated team that would allow us to utilize high yield in other areas of fixed income," said Mr. Schaney.
"The departures allowed us to restaff with people of like minds," he said, noting the firm's core-plus and target-return strategies could benefit from more "active" relationships with the high-yield team.