Departures as Skandia UK restructures sales team

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Skandia UK has restructured its sales team as three sales managers depart the business.

The firm had five area sales managers working for Skandia UK, three of which have now left the business, Fundweb understands.

Area sales manager for the South East, Lee Keeper, area sales manager for the Midlands, Nick Webb, and area sales manager for the North, Mike Steggles, have all left.

Skandia refused to comment on the departures.

Former area sales manager for London, Nick Jones, has been apppointed as head of sales for the South. Jones has been at the business in various roles since 2008.

Former strategic development executive in the corporate partners team Gary Stirrup has been appointed as head of sales for the North. He has worked at Skandia for 11 years.

Former area sales manager, South West, Nigel Jeffries has been appointed head of strategic relationships. Jeffries joined the firm in 2010 and prior to this he worked as a corporate partners specialist.

Old Mutual Wealth managing director (UK) Peter Mann says: “This dedicated team will be highly qualified and capable of supporting advisers through the RDR changes and well into the future. Jones, Stirrup and Jeffries’ appointments are just the start of that.”

Old Mutual Wealth announced earlier this month that it is planning to reduce headcount by 200 as it merges the Skandia business.

Old Mutual Wealth has been created through the merger of Skandia UK, Skandia International and the Skandia European businesses outside of the Nordic region.

The firm said at the time that 200 roles will be cut where there are areas of overlap created by merging the Skandia businesses together and where improvements in business processes reduce the need for manual work.

Old Mutual Global Investors has already made 30 roles redundant from the merger of Old Mutual Asset Managers and Skandia Investment Group.