Money Management

TwentyFour Asset Management recruits head of U.S. credit

David Norris was named head of U.S. credit at TwentyFour Asset Management, Vontobel Asset Management's London-based fixed-income boutique, spokeswoman Sarah Levine confirmed.

The position is new.

Mr. Norris will oversee the firm's U.S. fixed-income operations within TwentyFour's multisector bond team, which manages the firm's $7 billion in strategic income and dynamic bond funds. He will be based in New York and report to CEO Mark Holman.

Mr. Norris was a director at Credit Agricole responsible for high-yield credit trading. It could not be learned if he was replaced.

TwentyFour Asset Management has $17.9 billion in assets under management.