CITY MOVES | WHO’S SWITCHING JOBS

Babson Capital Europe
The credit fund manager has appointed Kam Tugnait as a managing director, ahead of its plans to launch a further UCITS fund focusing on European high yield, to be co-managed by Tugnait. Most recently, Tugnait was head of high yield at Gartmore, where he ran the firm’s high yield corporate bond fund. Prior to Gartmore, he served as head of high yield at Standard Bank and United Bank of Kuwait. Babson Capital Europe manages €6.5bn (£5.7bn) in assets.

Mizuho International
The London office of the Japanese bank has made two appointments to its fixed income trading and research team. David Ramsey will join from Santander at the end of May as director of rates trading for Core Europe and Brian Jensen, formerly of Cantor and Conduit, will join in June as director of credit trading for the telecoms media and technology sector.

JP Morgan Asset Management
Carlos Salamonde has been appointed as chief executive for the bank’s investment management business in Brazil. Salamonde joins from Banco Itau Unibanco, where he was head of corporate distribution and sales for the asset management division.

Capita Fiduciary
Michael Clark has joined the financial services provider’s London office in the newly created role of head of pension trusts. Clark previously worked for third-party administrator MNPA, and will head up a team of independent trustees currently working with 80 pension schemes.

Reed Smith
The law firm has appointed Brett Hillis to its energy and natural resources group. Hillis, who was previously at SNR Denton, primarily advises on commodity and environmental derivatives.

Oriel Securities
The stockbroker has hired Simon Edwards, David Henry and Salma Seetaroo to its corporate finance team. Edwards joins from Evolution Securities while Henry and Seetaroo join from Société Générale.

Deloitte
The business adviser has appointed Richard Parsons to set up a dedicated private equity coverage team. Parsons previously worked for Deloitte until 2000, when he joined Hawkpoint to manage the bank’s private equity relationships.