Morley bolsters credit team

Article date: 7 July 2006

Morley Fund Management, the UK’s largest active fundmanager, has appointed Jonathan Pitkanen and Oliver Judd as creditanalysts to its credit research team. Both will join Morley thismonth.

Reporting to Tim Barker, head of credit research, Jonathan willfocus on the industrial sector and Oliver will focus on thefinancial sector. Both will be responsible for analysing theoutlook for companies’ credit worthiness and making buy/sellrecommendations to the credit fund managers.

Morley's head of credit Paul Mingay said Jonathan and Oliverwere a valuable addition to the team.

"In the current challenging credit environment, hiringexperienced analysts is crucial to delivering strong fundperformance for clients. Credit analysts play an important role instock selection.

“Jonathan and Oliver's addition to our team strengthensthe quality of our credit research. Their arrival boosts our teamof credit analysts to 12 strong, working closely with a team ofnine corporate bond fund managers," he said.

Jonathan brings 12 years credit industry experience and joinsafter five years with Fitch Ratings where he was a European creditanalyst. His responsibilities included analysing European retailers(food, apparel and specialty retail sectors), predominantlyinvestment grade. Prior to Fitch Ratings, he was a relationshipmanager and head of credit analysis, Corporate Banking at SocieteGenerale.

Oliver joins Morley from HSBC Bank. He was responsible fordeveloping HSBC’s rating advisory capabilities and coverageof the financial services sector. He has nine years’ industryexperience and prior to HSBC Bank, Oliver was a credit analyst atStandard & Poors for five years.

With more than £155bn managed by firms within the Morley groupof companies, Morley manages more than £70bn in fixed income assetsand has more than 40 fixed income professionals. Morley’scredit team manages more than £24bn in assets.*

-ends-

For more information contact:
BethSaint
Corporate Communications
Telephone: 020 7809 8125
Morley Fund Management

* all figures as at 31 May 2006

Notes to editors
Morley FundManagement

  • Morley Fund Management Limited is the UK-based assetmanagement business of Aviva plc. Firms within the Morley group ofcompanies manage £155bn from offices around the world as at 31 May2006.
  • Morley manages both institutional and retail funds under theMorley brand. It also acts as investment manager for a range ofretail investment funds, marketed in the UK under the NorwichUnion brand, and international funds marketed under the AvivaFunds brand.

Awards

  • Property Fund Manager of the Year, Pensions Management Awards2006
  • Best Commitment to Raising Standards of Trustee Education,Engaged Investor Awards 2006
  • Property Fund Manager of the Year, Property Week Awards2006
  • SRI Provider of the Year, Global Pensions 2006
  • Central European Property Awards 2005 - Outstanding Company ofthe Year & Investor of the Year
  • UK Pensions Awards 2005 – Property Manager of theYear
  • Property Week Awards 2004 – Best Property FundManager
  • Pensions Management Provider Awards 2003 – Best PropertyFund Manager
  • Fund Manager of the Year - Pensions Week Awards 2002
  • Specialist Manager of the Year - UK Pensions Awards 2002

Further information about Morley Fund Management can be found atwww.morleyfm.com

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