Henderson has appointed Phil Apel as head of fixed income as of 4 November 2013.

He will be responsible for £18.3 billion of global fixed income assets, and a team of around 60 people in the UK and US. He will report to Rob Gambi, CIO, who will be joining Henderson early in 2014.

Phil joined Henderson in 2005 as head of interest rates. He is chair of the Fixed Income Investment Strategy Group (ISG), Henderson’s group of senior bond investors responsible for diversified fixed income portfolios such as Henderson Total Return Bond Fund and Henderson Absolute Return Bond Fund.

James McAlevey will take over as head of the interest rates team and join the ISG. James will be supported by Mitul Patel who becomes deputy head of interest rates.

Phil Apel said: "Our fixed income business has grown in recent years to become one of the go-to houses in Europe both for institutional and retail investors. We have a global investment process, and our aim now is to globalise our product range and client base in keeping with the demand we see throughout the world. Given the strong Henderson fixed income team we already have in place and the plans we have to grow it I am confident that we are in a sound position for the future."

Andrew Formica, chief executive, Henderson, said "With the appointment of Rob Gambi as CIO supported by Graham Kitchen as Head of Equities and Phil Apel as Head of Fixed Income we have a very strong line-up to continue the strong investment performance we have delivered for our clients. This concludes the change to our senior executive and board ranks that we have undertaken this year to position us for our next phase of growth as we further internationalise the business"