Soros U.K. Chief Joins Insurer-Owned Asset Manager

Jan 12 2010 | 1:29am ET

The head of Soros Fund Management’s British business has left the hedge fund giant.

Chris Fellingham, who had served as U.K. CEO of Soros for about a year, is to join Ignis Asset Management, the money management arm of insurer Pearl Group. Ignis CEO Chris Samuel called the hire “a major coup.”

Fellingham, a fixed-income specialist who worked at Mercury Asset Management, Merrill Lynch Investment Managers and BlackRock before joining Soros, will start his new job at chief investment officer of fixed-income later this month. He will focus on the £71 billion firm’s £50 billion in debt investments and is charged with expanding Ignis’ business in the area.

Soros, which has just five employees in London, does not plan to hire a direct replacement of Fellingham, Financial News reports.

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