US-based employee-controlled investment manager Neuberger Berman Group has announced the expansion of its global high-yield team with the appointment of Andrew Wilmont as lead European high-yield portfolio manager, based in London.
The company said that Wilmont, a veteran portfolio manager who most recently served as head of European high-yield investments at Alcentra, would be a senior member of Neuberger Berman's global high-yield team, reporting to Ann Benjamin, the firm's chief investment officer for non-investment grade strategies.
"High yield has matured into a global asset class and we're delighted to expand our investment capabilities and the range of strategies Neuberger Berman offers to clients with an investor of Andrew's calibre," Benjamin said.
Neuberger Berman plans to introduce a European High Yield strategy as part of the firm's growing non-investment grade platform, which includes the Neuberger Berman Full Market High Yield, Short Duration High Yield, Bank Loans and Distressed Debt strategies.
Adding European High Yield expands the firm's capabilities in global credit and allows managers to add the asset class opportunistically to other credit mandates.
Before his work at Alcentra, Wilmont served as head of European high yield strategies at AXA Investment Managers.