Kagitcibasi, who joins the London-based team, previously specialised in EMEA hard and local currency as portfolio manager at Rohatyn Group, a New York-based emerging markets hedge fund. Before this, he worked on emerging markets at Bluecrest Capital.

“Emrah’s appointment represents a significant reinforcement of our emerging market debt capabilities,” said the company's head of emerging market debt, Simon Lue-Fong.

As of the end of 2014, Pictet Asset Management managed £97.2 billion ($144.9 billion) in assets invested in equity and bond markets worldwide.