Florian Hillenbrand will next week leave his position as senior covered bond analyst in UniCredit credit research, but he will be staying involved in the asset class after a move to the bank’s portfolio management team.

Hillenbrand has worked alongside Franz Rudolf, head of financials credit research at UniCredit, since 2004, having begun his banking career at predecessor Bayerische Vereinsbank in 1996.

Remaining in Munich, he will from next Monday be moving to work in portfolio management at UniCredit, where he will be involved with covered bonds alongside other asset classes.

An internal replacement for Hillenbrand is understood to have been found already.