Greg Wessell, Michael Carr and Brian Caldwell, all stable-value portfolio managers from INVESCO Institutional, have joined Deutsche Asset Managements fixed-income operation in Louisville, Ky., as vice presidents and portfolio managers, confirmed spokeswoman Mayura Hooper. The three will report directly to John Axtell, managing director and head of DeAMs stable-value team. Catherine Higgins also left INVESCO to be an associate vice president and relationship manager at DeAM. Her previous title was not available.
The four follow DeAMs hiring of 16 fixed-income professionals from INVESCOs worldwide fixed-income group last month, many of whom have been tapped to start a new fixed-income business for DeAM in Louisville.
The responsibilities of Messrs. Wessell, Carr and Caldwell have been assumed by the remaining eight members of INVESCOs Louisville-based portfolio management team, according to a letter INVESCO issued to stable-value clients.