F&C Asset Management hired Andrew Lake as director, high yield.
Lake will join F&C from Merrill Lynch Investment Managers (MLIM) where he has been Director, Global High Yield and the principal portfolio manager running MLIM’s European high yield portfolios.
He will report to Kevin Mathews, director, head of high yield.
“Credit is a core competency for F&C in both the institutional and retail segments,” Matthews said. “Andrew is an experienced investor with a strong track record who will play an important role in helping us to further build on this success. We are delighted that he will be joining the team.”
Lake is a History graduate of the University of York and holds an Executive MBA from the University of Chicago. He initially trained as a lawyer, gaining a Diploma in Law from City of London University and studying the Bar Vocational Course at the Inns of Court School of Law.
Lake began his investment career in 1996 as a fixed-income analyst with Hill Samuel Asset Management before moving to IBJ Asset Management International. At IBJ he moved to a portfolio management role, managing a number of institutional corporate bond and money market funds and providing credit analysis and risk monitoring for an asset-backed credit arbitrage vehicle.
In 1998 he moved to Merrill Lynch Investment Management where he has been managing products targeted at both institutional and retail clients, which include the co-management MLIIF Global High Yield Bond Fund and the high yield component of the Merrill Lynch High Income Bond Fund.