Toronto-based Saxon Financial Inc. has shifted its fixed-income investment management team so that Steve Locke assumes the position of lead portfolio manager of Saxon Bond Fund. Locke has been a member of the Saxon team since 2003 and has more than 11 years of investment-management experience. The firm says it will probably add a co-manager in the coming months. “Our policy is to build teams both for continuity and succession planning,” says Kevin Feeney, Saxon’s chief financial officer. Locke manages more than $5 billion in fixed-income portfolios at Saxon. He replaces former vice president and senior fixed-income portfolio manager Peter Park, who left the firm to pursue other interests.