David Blake leaves Northern Trust as director for Global Fixed Income

Dan Barnes

David Blake has left Northern Trust Global Investments as director for Global Fixed Income, after 15 years at the firm, following a restructuring of portfolio management across the UK and US teams.

In a statement a spokesperson said, “To leverage our collective global resources and provide greater and more efficient access to our cash and fixed income expertise, we are planning to focus our London-based team on management of sterling and Euro cash/short duration and fully utilise our extensive US based resources in the management of other portfolios.”

As a leader, Blake was noted in the firm for his support of team diversity, to encourage diversity of thought. He joined in 2003 from the Debt Management Office and subsequently took on management of the fixed income team in 2008 following the collapse of Lehman Brothers.

Under his tenure the firm has seen its money market assets under management grow from US$5 billion to US$30 billion, whilst it became the first house to launch a government money market fund in currencies post-Lehman, and the first team to restructure its euro money market fund when negative interest rates became a reality.

More recently, the business expanded its index fixed income offering from one focused on rates to globally aggregated credit and rates, along with local currency emerging market debt.

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