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Manulife Investment Management has announced changes to its Canadian fixed income team.

Terry Carr, senior managing director and chief investment officer, will retire on Sept. 30, 2020. Hosen Marjaee, senior managing director and senior portfolio manager, will retire on March 31, 2020.

The duo, who have a combined total of more than 70 years of experience in the investment industry, will continue to be active in fund management over the next several months to ensure a smooth transition, according to a release.

“We sincerely thank Terry and Hosen for their many contributions over the years and their continued dedication to the business,” Bernard Letendre, Manulife’s head of wealth and asset management in Canada, said in a statement.

Roshan Thiru, senior managing director and senior portfolio manager, will assume responsibility for the funds and pools managed by Carr. The 20-year industry veteran will also become Manulife’s head of Canadian fixed income.

Altaf Nanji, managing director and head of credit research, will assume responsibility for the strategies managed by Marjaee.

Manulife also announced that Andrew Gretzinger, managing director, has been appointed head trader for Canadian fixed income, effective Mar. 31, 2020. Gretzinger’s portfolio manager responsibilities will be assumed by members of the team.