Jeffrey MacDonald was named director of fixed-income strategies at Fiduciary Trust Company International, spokeswoman Rebecca Radosevich said.
Mr. MacDonald replaced Ronald Sanchez, who became chief investment officer in June.
Mr. MacDonald is responsible for overseeing and developing the company's fixed-income policy and strategy. He is also in charge of the firm's fixed-income investment team, manages client portfolios and reports to Mr. Sanchez.
Mr. MacDonald was a managing director and senior portfolio manager in charge of developing and managing Fiduciary Trust's fixed-income strategies. He will continue to oversee client relationships for Fiduciary Trust. There are no plans at this time to add a senior portfolio manager, Ms. Radosevich said.
Fiduciary Trust Company International is a New York-based affiliate of Franklin Templeton Investments with more than $47 billion in assets under administration and management as of June 30.