Threadneedle Asset Management has appointed David Donora as an executive director with responsibility for setting up a commodities team and launching a commodities hedge fund in the autumn

Threadneedle Asset Management has appointed David Donora as an executive director with responsibility for setting up a commodities team and launching a commodities hedge fund in the autumn. He will report to William Frewen, Threadneedle's head of fixed income.

Donora was previously head of structured OTC derivatives at MF Global UK, the derivatives brokerage that separated from Man Group through an IPO last July. Earlier he was head of OTC derivatives at Refco Overseas.

'We are pleased to have David on board as our first appointment dealing solely in commodities,' Frewen says. 'He has an excellent background in commodities and derivatives to help us start a new growth area of our business.

'David will be the catalyst for deciding where Threadneedle should position itself in this wide-open area. We are positive on the outlook for commodities as a growth contributor to our business and it will broaden the range of investment products we can offer our clients.'

Adds Donora: 'I am looking forward to working alongside Threadneedle's experienced investment teams. Threadneedle is clearly making strides to deliver a growing range of investment products and I am pleased to be involved in contributing to their development.'