Lloyd first joined M&G in 2006 as head of institutional portfolio management, before becoming deputy CIO, fixed income in 2020.
Alongside Stefan Isaacs, Lloyd will be replaced by Knee, reporting to Jim Leaviss, CIO, fixed income.
M&G backs bitcoin derivatives exchange with £20m investment
Knee will join the firm in January from M&G Southern Africa, where he was most recently chief investment officer.
Leaviss said: “During his time with the business, David has overseen a transformational expansion and diversification of our institutional public debt book of business. The bedrock of this has been the remarkably consistent investment track record generated by the fund managers. We would like to thank David for his extraordinary contribution to the business over the years and wish him well in his retirement.
“I am pleased to welcome David Knee back to the UK business following 15 years with M&G Investments Southern Africa, where he was most recently chief investment officer and joint portfolio manager of several funds. David has a long history with the group, joining us in 1997 as a part of the London-based fixed income team.”
