Fidelity's head of Asian fixed income quits - sources

HONG KONG Fri Feb 7, 2014 4:13am EST

HONG KONG Feb 7 (Reuters) - Sabita Prakash, head of Asian fixed income at Fidelity Worldwide Investment, has left the company, a sources familiar with the matter said on Friday.

Prakash who has been with the firm for a decade oversaw more than 20 people in the fund and was part of a core team that developed the Asian high yield franchise and explored new business opportunities such as the offshore yuan bond space.

A spokeswoman confirmed the news and said Olivier Szwarcberg, head of credit research (fixed income) since 2008 will take over her responsibilities.

Prakash was not immediately available for comment.

Fidelity Worldwide Investment manages about $270 billion as of Dec. 31 in global assets. In Asia, they are primarily an equity-focused shop but their fixed income assets have grown in recent years.