Jolly, who will join in September, will also take on lead portfolio management responsibility for a number of macro and multi-sector portfolios managed by a team of ten in London.

Current mandates include aggregate, sovereign and absolute return strategies with nearly $15bn of assets under management.

He will also work with regional portfolio managers in Asia and the US to further develop Schroders’ global macro investment framework.

Jolly will join Schroders from UBS Global Asset Management where he was head of global sovereign, currency and UK fixed income portfolio management.

Prior to UBS, he spent more than 20 years at Gartmore where he became head of currency and fixed income portfolio construction.

Schroders global head of fixed income Karl Dasher said Bob’s proven execution skills as well as his strategic sense of how to build and evolve a macro investment process complements our long-term strategy.