The UK-based asset manager has named Omar Saeed as Reeves's successor on its Dynamic Bond Trust.

London-based Legal & General Investment Management has promoted Omar Saeed to the role of lead manager of the L&G Dynamic Bond Trust.

Saeed joined the firm in February as senior portfolio manager within the 70-person strong global fixed income team, which manages £120 billion ($183 billion) of fixed income mandates. He previously managed $1.5 billion in high-yield funds at Swisscanto Asset Management.

Saeed takes over from senior fixed income fund manager Martin Reeves, who currently runs the fund. Reeves will retain his role as lead manager of the L&G High Income Trust, while continuing to provide support on the Dynamic Bond Trust.

The trust invests in the full range of fixed income assets from government bonds to high yield, using a macro-oriented approach.

“DBT’s strategy is ideally suited to the uncertain market environment that lies ahead, where there is a high probability of rising bond yields and volatile credit markets,” said LGIM's co-head of global fixed income, Anton Eser.

“Omar brings a great performance track record and experience in the active management of fixed income funds globally. His strong macroeconomic background will ensure that core macro themes are represented tactically and consistently throughout all the underlying investments within DBT.”

As of the end of March, LGIM managed £736.8 billion in total assets for over 3,000 clients.