Schroders has recruited a seasoned credit fund manager from Legal & General Investment Management; an addition the company said represents an expansion of the business in response to greater demand from investors.

Julien Houdain, head of global bond strategies at LGIM, has joined Schroders as deputy head of credit for Europe, the fund manager said in a statement on 14 January. He is managing the recently launched Global Credit Income Short Duration fund, and reports to Patrick Vogel, head of credit for Europe.