Reorganisation at Barings

Hughes has worked at Baring Asset Management in London since 1998 and will step down from the role of chief investment officer (CIO) at the end of 2007.

Hughes previously worked for Barclays Capital, as group economic adviser and chairman of Barclays Capital Pensions. Prior to that, he worked as global head of economics and investment strategy at BZW Securities, a subsidiary of Barclays Group.

Marino Valensise, currently London-based head of Barings' fixed-income and currency team, will replace

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