David Ennett was named head of high yield at Kames Capital, a spokesman said.
Mr. Ennett, who will start in September, will replace Philip Milburn. Mr. Milburn, who has been on medical leave, will return to the firm in the third quarter and will become head of investment strategy, a new position.
Mr. Ennett will also be co-manager of the Kames High Yield Bond fund and the Kames High Yield Global Bond fund, alongside co-manager Mr. Milburn. Until Mr. Ennett starts, David Roberts, head of fixed income, will be responsible for the firm’s high-yield funds.
Claire McGuckin, co-manager on those funds, has left Kames Capital. Further details were not available by press time.
Mr. Roberts said Mr. Milburn will work with Mr. Ennett “to shape our high-yield propositions.”
Kames Capital has £57.8 billion ($84.5 billion) in assets under management.
Mr. Ennett was head of European high yield at Standard Life Investments. A statement provided by a spokeswoman for SLI said Fraser Duff, investment director, credit, was appointed lead manager of the Higher Income fund and the European High Yield Bond fund following Mr. Ennett’s resignation. He was also appointed co-manager of the Total Return Credit fund.
