Caroline Hedges was named head of credit at Aviva Investors, effective immediately, a spokesman confirmed.
The position is new and was created following the appointment of Colin Purdie as CIO of liquid markets in June. Mr. Purdie was previously CIO of credit.
Ms. Hedges, who takes on some of Mr. Purdie's responsibilities, leads teams across investment-grade and high-yield, emerging markets debt, liquidity and securities finance.
"Caroline has been part of my leadership team for the past three years, during which time our third-party liquidity business has grown from £3 billion ($4.1 billion) to £10 billion," Mr. Purdie said in a news release Monday. "She has a strong focus on commercializing our capabilities, rigorous focus on performance and ability to work effectively with the investment and sales teams. She has a clear strategy to take the credit business forward, based on performance, culture, process, a well-defined approach to ESG and appreciation of the competitive environment."
Ms. Hedges was previously head of liquidity and securities finance, and sterling liquidity plus a portfolio manager at Aviva. Details about her replacement were not available.
Aviva Investors had £262 billion in assets under management as of June 30.
