Lachlan Callander, who spent nearly five years heading up Australian fixed income at Invesco before migrating to the

London office, has left after nearly 12 years with the firm.

Mick O’Brien, chief executive officer of Invesco Australia, confirmed Callander, who moved to London from Invesco’s

Melbourne office in 2007 to head up global (ex-US) fixed income, exited the firm in January.

He said Invesco had undergone a “significant restructure” of its fixed income platform, and was surviving the financial crisis in “remarkably sound condition”.

In March last year 11 of Invesco’s global fixed interest team decamped to Deutsche Bank, including global CIO Steve Johnson, director of US fixed income Ken Bowling and global/UK fixed interest chief Mark Dowding.

“We haven’t replaced those individuals,” O’Brien said, of the departures of three members of the Melbourne-based fixed income team last year.

“Effectively we’re running fixed income out of the

Melbourne office; Jackson Leung, head of the multi-asset class team and Tony Edmonds, head of Australian credit, are managing the domestic fixed income portfolios. We offer global fixed income portfolios but we don’t have assets and clients that we’re managing at the moment.”

O’Brien said Invesco had managed to avoid most of the credit and liquidity problems in the $150 billion in cash and fixed income it manages globally.

Invesco saw net inflows of $18 million in the three months to March 31, 2009, with Australian small caps and global listed property the key drivers.

After joining Invesco’s fixed income team in 1997, Callander was appointed head of Australian fixed income in 2002, a role he held until 2007 when he joined Invesco’s

UK office as head of global (ex-US) investment grade fixed income.

A spokesperson in

London confirmed Callander had been replaced internally
by Jan Friedli.

“Jan has nearly 20 years of investment
experience and has extensive experience managing global portfolios for major
investment companies, including nearly 10 years at Invesco,” the spokesperson
said.

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