Old Mutual plans restructure over merger

Old Mutual Global Investors will look at new products and build out its third-party distribution as part of the merger of Skandia Investment Group with Old Mutual Asset Managers.

The enlarged group has invested in product development and plans to expand where new offerings can be added.

The group also plans to grow third-party distribution through IFAs, wealth managers and banks by developing its platform relationships.

Julian Ide has been confirmed as chief executive of Old Mutual, while former Skandia chief investment officer James Millard was named as director of investments.

Chief operating officer Paul Nathan and Mitchell Dean as chief financial officer complete the senior management set-up.

Ashton Bradbury was named as head of equities, while Stewart Cowley becomes head of fixed income. Paul Simpson has been named as head of alternatives whilst Skandia’s John Ventre becomes head of multi-manager

Warren Tonkinson was confirmed as head of distribution, Celeste Dias-Brennan is named as head of product, while Marcus Bolitho is to be head of marketing.

Ide says: “Our vision is to be a recognised leader in asset management, trusted by our clients as expert investment managers and providers of smart investment solutions.

“The UK is at the core of our strategy – specifically capturing more assets from the wholesale market and building investment solutions for the Old Mutual Wealth business.”

Ide says the group is “perfectly placed” to expand and develop into one of the top players in the market, which he expects to be reflected in growth in assets under management.