Capital Group recruits fixed income lead

The US$2.2 trillion asset manager has appointed Scott Steele as head of fixed-income business development for Europe and Asia, including Australia.

Currently, Capital has several fixed-income strategies available to Australian investors.

In this newly created role, Steele is tasked with building the US$2.2 trillion asset manager's fixed-income distribution strategy and product development for institutional and intermediary clients.

He will report to Alexandra Haggard, Capital's London-based head of product and investment services for Asia and Europe.

Previously, he was global head of fixed income of client portfolio management at Janus Henderson Investors.

Before that, he held several leadership roles at PIMCO, including head of wealth management and head of institutional, Asia ex. Japan.

Earlier, he was investment chief at BMO mutual funds.

"Over the last five years, Capital Group has doubled its fixed income assets under management to just over US$450 billion, launching several new fixed income offerings in Europe and Asia," said Haggard.

"Scott brings deep fixed-income investment management and distribution experience to our team. He will be vital in helping our clients build more resilient and diversified portfolios as we expand our fixed income capabilities and bring our active strategies to more investors across Europe and Asia."

Steel added: "Amid ongoing volatility, the role that fixed income can play in a balanced portfolio has never been more important."

"We have a real opportunity to demonstrate the power of our fixed income capabilities and distinctive investment approach to clients.

Australian investors have access to Capital Group Global Total Return Bond Fund, Capital Group Global Corporate Bond Fund (Hedged), and Capital Group Global High-Income Opportunities (Hedged).