Resolution Asset Management (RAM) will be rebranded next year following the Pearl Group’s purchase of the larger life insurance company last month. However, Pearl intends to keep and develop RAM’s third-party business and will allow it to operate as a standalone business.
According to an announcement to the London Stock Exchange (LSE), Pearl has concluded from a review of RAM and Axial Investment Management, its own in-house manager, that the two businesses do not overlap.
Pearl is to form a steering group made up of key shareholders and the chief executive officers of RAM and Axial to plan a strategy for Pearl Group’s asset management business. The LSE statement said this is expected to include the asset management company operating as a separately capitalised business in which employees will have long-term equity participation.