Foreign & Colonial is looking to hire more credit specialists as it expects European fixed income opportunities to increase if the UK joins the euro.

Jeremy Toner, director of fixed income at Foreign & Colonial, said: &quotOvernight the euro would expand the investible local currency bond universe from €623bn ($553.1bn) to €5 trillion. The euro bond market will be the largest bond market in the world and this would transform the management of UK pensions bond allocations.&quot