His current role at Newton as head of fixed income will be assumed by Ella Hoxha, who is joining from Pictet Asset Management in July, the firm said in a statement. Brain will retain his current portfolio management responsibilities through a transition period, after which Hoxha take over.

In the newly-created role, Brain will focus on developing Newton’s multi-asset capabilities, drawing on his near 40 years of investment experience, and 20 years leading Newton’s fixed income team.

Reporting to Mitesh Sheth, multi-asset CIO at Newton, Brain will contribute to macro investment idea generation across the franchise, working on the expansion of Newton’s research themes, and on product innovation, to ensure that clients have access to solutions fit for the changing economic environment, the firm continued.

“Alongside Mitesh, Paul will help to challenge investment conventions and evolve our proposition such that Newton’s products remain at the forefront of the market,” Euan Munro, CEO at Newton, said. 

Hoxha will be responsible for the continuing development of Newton’s fixed income product offering, working with the existing team. She brings over two decades of fixed income expertise, having most recently been the senior portfolio manager at Pictet, where she focused on global fixed income strategies. She also led the development and launch of Pictet’s Global Climate Government Bond Fund, playing a role in the company’s ESG efforts in the fixed income space. Prior to Pictet, she held senior portfolio management positions at Wellington Management and Invesco, the firm added.