Ben Hayward was named CEO of TwentyFour Asset Management, the fixed income manager said Wednesday.
Mr. Hayward is replacing Mark Holman, who is giving up the CEO role in January to serve as portfolio manager for the firm's flagship Strategic Income fund, among other duties.
Mr. Hayward, a founding partner of the London affiliate of Swiss-based Vontobel Group, will give up portfolio management responsibilities on the asset-backed securities team. Three existing partners — Rob Ford, Douglas Charleston and Aza Teeuwen — will assume those responsibilities.
TwentyFour Asset Management will be adding two more positions to the ABS team at some point, a company spokesman said in an email.
TwentyFour Asset Management had £22.7 billion ($30.2 billion) in assets under management as of Nov. 30.