Standard Life Investments

Biographies of our people

Craig MacDonald

Craig MacDonald

Head of Credit and Aggregate

Craig joined Standard Life Investments as an Investment Director in 2002. Craig has been a key figure in broadening our corporate credit processes and resources to manage euro and global corporate credit in addition to our strong sterling bond heritage. He now manages a range of third party corporate bond portfolios. Prior to joining Standard Life Investments, Craig was responsible for non-local government European public finance at Standard & Poor’s, the credit rating agency.

Erlend Lochen

Erlend Lochen

Head of Global High Yield Bonds

Erlend joined Standard Life Investments in 2001 as an Investment Director. Prior to joining us, he worked with a number of companies in the credit area, including Skandinaviska Enskilda Banken, Barclays Capital and Merrill Lynch. In 2007, Erlend was appointed Head of High Yield and in 2009, he moved to our Boston office to establish our US credit team. Erlend has been a key figure in the development and management of our global high yield capability.

Philip Laing

Philip Laing

Head of Rates

Philip joined Standard Life Investments in 2001 and has over 20 years’ investment experience. He is responsible for co-ordinating the management of the government bonds team with specific portfolio responsibilities covering institutional pooled bond portfolios, segregated bond mandates and Standard Life Group portfolios. He also manages aggregate bond portfolios with additional input into the global absolute returns process. Philip is heavily involved in the further development of our government bonds team process and marketing our capabilities to consultants and third party clients.

Daniel McKernan

Daniel McKernan

Head of Sterling Investment Grade Credit

Daniel joined Standard Life Investments in 2013 as Head of Sterling Investment Grade Credit. He has responsibility for a number of large credit and aggregate bond mandates. Daniel has over 20 years’ investment experience as a fixed income fund manager. He previously worked at Scottish Widows Investment Partnership as Head of European and Sterling Credit. Daniel has also worked at BlackRock, Aegon Asset Management and Norwich Union.

Mark Munro

Mark Munro

Investment Director, Total Return Credit

Mark Munro joined Standard Life Investments as Investment Director in 2013. He is part of the Sterling investment grade team and is a portfolio manager running a number of retail and institutional funds.

Shayne Dunlap

Shayne Dunlap

Investment Director

Shayne joined Standard Life Investments in 2015 as an investment director. Prior to joining us, Shayne worked for Mizuho Bank in London as a proprietary trader. With over 25 years' fixed income experience, he began his career in 1989 at Australian merchant bank DBSM, starting in bonds sales, before becoming a derivatives trader in AUD and NZD. In 1991 he was seconded to London with Midland / HSBC as a derivatives market maker, initially in AUD and NZD, later in ECU and FRF. In 1994 he moved to Industrial Bank of Japan / Mizuho Bank to trade the ITL and ESP derivative books and transferred onto the proprietary trading team in 1999. Since then he has achieved an enviable track record of trading G7 rates and for the last eight years he co-managed a proprietary trading book with Richard Marshall.

Richard Marshall

Richard Marshall

Investment Director

Richard joined Standard Life Investments in 2015 as an investment director. Prior to joining us, Richard worked for Mizuho Bank in London as a proprietary trader. With over 15 years' fixed income experience, he began his proprietary trading career in 2000 at the Industrial Bank of Japan / Mizuho Bank, initially as a senior-quant to build the banks algorithmic trading platform and develop the bank's official valuation and risk database for OTC option products, which was subsequently rolled out globally. He went on to write bespoke products and solutions for several of the discretionary proprietary traders, the success of which led to a trading mandate. For the last eight years he was co-Portfolio Manager of a multi strategy proprietary trading book.


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Products and services described herein are provided by Standard Life Investments, its subsidiaries, affiliates or related companies.

An investment in any investment vehicle is speculative and involves certain risks. Prospective investors should ensure that they: (1) understand the nature of the investment and the extent of their exposure to risk; (2) have sufficient knowledge, experience and access to professional advisors to make their own legal, tax, accounting, and financial evaluation of the merits and risks of participating in an investment in the strategy; and (3) consider the suitability of investing in light of their own circumstances and financial condition. The strategy’s investment program is not suitable as the sole investment vehicle for an investor and should be part of an overall investment strategy. Investors should only invest if total off of the investment may be sustained.

Due to among other things, the volatile nature of the markets and the investment strategies discussed herein, they may only be suitable for certain investors. No investment strategy or risk management technique can guarantee return or eliminate risk in any market environment. Further, this information may be amended or revoked at any time without notice.