Western Asset boosts fixed income team

Legg Mason affiliate, Western Asset Management, has expanded its fixed income team with the appointment of Damon Shinnick as portfolio manager and senior credit analyst.

Shinnick will be responsible for developing portfolio strategy and supplementing Western Asset’s credit research in Australia and New Zealand. He will also help develop new products in corporate and structured credit for Australian investors.

Shinnick was previously a partner at UK pension buyout firm, Pension Corporation. He has also worked as a portfolio manager for Lehman Brothers Asset Management in Australian and as a senior analyst at Challenger.

Western Asset head of investment management Anthony Kirkham said the appointment was an opportunity to position the business for growth in Australia.

“Damon brings with him a wealth of experience in Australian, UK and European markets across portfolio management, credit research, asset allocation and risk management,” Kirkham said.

Western Asset’s Australian operations have reached $11 billion in funds under management.