Davy, a Dublin-headquartered wealth manager and stockbroker, is to employ US asset manager Pioneer Investments for its private clients’ investments in a corporate bond fund. Their assets will be invested in Pioneer’s €1.4 billion ($1.9 billion) corporate bond offering.

This is a move by Davy to provide corporate bond exposure to private clients.

“Our aim is to identify and develop relationships with leading global asset managers in each of the respective asset classes. Pioneer Investments has a very experienced European credit team and this is an excellent combination where their strength in fund management will enhance our capability in designing innovative financial solutions for our clients,” said Paul Giblin, head of alternative investments at Davy.

Pioneer Investments manages over €90 billion in fixed income portfolios and boasts a 50-strong fixed income team.  The firm had €157.50 billion of total assets under management as at end-April 2009. With offices in 31 countries, the group employs approximately 2,200 staff.

Davy employs over 440 people and has three regional offices.