Cian O’Carroll and John Lupton were named partners of Hermes Fund Managers’ new global credit asset management boutique, a Hermes spokeswoman confirmed.
The positions are new. Official titles have not been determined, the spokeswoman said.
The £31.3 billion ($49.9 billion) BT Pension Scheme, London, seeded the new boutique with £400 million. The BT fund is Hermes’ owner and its largest client.
Mr. O’Carroll was head of global credit and hybrids at Fortis Investments, and Mr. Lupton was head of market, customized and securitization strategies for Fortis in global credit and hybrids. Mr. Lupton had reported to Mr. O’Carroll at Fortis.
Maryam Muessel, global credit chief investment officer, will oversee the combined global credit team of Fortis and its new parent, BNP Paribas Investment Partners, a Fortis spokeswoman said in an e-mail response to questions.