Axa Investment Managers, a division of France’s largest insurer, hired John Porter from Barclays Plc to oversee 380 billion euros ($515 billion) in bonds.
Porter, as global head of Axa’s fixed-income unit in London, replaces Theodora Zemek, who decided to leave the asset manager to pursue other opportunities after five years with the firm, according to a spokeswoman for Axa in London.
At Barclays, Porter was most recently global head of portfolio and liquidity management after joining the London-based bank in 1998.
“I am inheriting a very strong and diversified fixed-income business,” Porter said in the statement. My goal is to “continue to grow our third-party assets under management through the same investment approach and philosophy,” he said.
A spokesman for Barclays in London declined to comment when contacted by Bloomberg News and was unable to provide details on Porter’s replacement.
(Editors: Jon Menon, Simone Meier)