Chad Farrington was named a managing director and portfolio manager on DWS Group's U.S. municipal high-yield bond team, said DWS Group spokeswoman Oksana Poltavets.
The position is new. Mr. Farrington will join the 14-person team in early December. He will be based in Boston and report to Ashton Goodfield and Carol Flynn, co-heads of the municipal bond department.
Mr. Farrington was the lead portfolio manager for a high-yield municipal fund at Columbia Threadneedle Investments. He will be replaced by Douglas White, confirmed Columbia Threadneedle spokesman Carlos Melville.
DWS Group had $803 billion of assets under management as of Sept. 30.
