A spokesperson for Henderson said the other co-head of multi-asset Paul O'Connor will become sole head of multi-asset when McQuaker departs. The firm currently has no plans to recruit a direct replacement from outside the company.
The spokesperson added that McQuaker has a six month notice period and is now carrying out a handover of responsibilities, before likely going on gardening leave for the remainder of the six months.
McQuaker brings with him over three decades of investment experience. His focus will be developing multi-asset portfolios for Fidelity’s clients in the UK.
McQuaker will take up his new post ‘later this year’ Fidelity said, joining a 26-strong multi-asset team with near to £30bn of assets under management
“Our multi-asset solutions team and franchise continues to go from strength to strength,” said James Bateman, head of portfolio management, Fidelity Solutions. “The arrival of someone of Bill’s calibre is testament to this and a clear signal of our ambitions to continue to develop our multi asset capabilities. Bill is an extremely experienced multi-asset investor and his rigorous and disciplined investment approach is a perfect fit for our existing Fidelity Solutions team.”