UK's BlueCove recruits local head

BlueCove Investment Management has hired a former Morgan Stanley executive to represent it in Australia.

The London-based systematic bond fund manager has appointed Ty Thurgood as its local head of sales.

Thurgood joined Morgan Stanley from Eaton Vance Australia, where he served as institutional business head for Australia and New Zealand.

In this Sydney-based role, Thurgood was responsible for identifying and developing relationships with pension funds, private banks, institutional investors and other investors.

Before that, the sales executive was the managing director of Nomura Asset Management Australia.

Earlier he spent six years at Russell Investments Australia as head of new business and held other senior roles at

BNP Paribas Securities Services, Invesco and Bankers Trust.

Thurgood said he looks forward to building on BlueCove's success in Australia.

"Australian investors have a long history of sophisticated and innovative approaches to asset management and portfolio construction," he said.

"I look forward to sharing our modern approach to fixed income with the Australian institutional client base and building on BlueCove's existing business and relationships in the region."

BlueCove head of business development Ulrich Koall added "BlueCove applies an active scientific approach to fixed income investing, providing both a complement and alternative to traditional fixed income investing.

"We believe this investment style is set to be a defining development for the US$60 trillion fixed-income industry.

BlueCove was launched six years ago by Hugh Willis, co-founder of BlueBay Asset Management and Alex Khein, former chief executive of BlueBay.

In February 2023, the firm sold a minority stake to Ares Management, the alternative investment manager worth $US352 billion.