Old Mutual plans distribution and fund range growth

Old Mutual Global Investors is set to grow third-party distribution and its product range as part of the enlarged asset and wealth management business.

The group – which was created by the merger of Skandia Investment Group and Old Mutual Asset Managers – has invested in its product development capability, with plans to expand where new offerings can be added.

The group plans to grow third-party distribution through independent financial advisers, wealth managers and banks through the development of its platform relationships.

Julian Ide has been confirmed as chief executive of Old Mutual, while former Skandia chief investment officer James Millard has been named as director of investments. Paul Nathan is chief operating officer and Mitchell Dean is chief financial officer complete the senior management set-up.

Ashton Bradbury has been named as head of equities, while Stewart Cowley becomes head of fixed income.

Paul Simpson been named as head of alternatives whilst Skandia’s John Ventre becomes head of multi-manager

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

Julian 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.”

He adds: “With the pre-eminent investment talent we have in the combined business, coupled with the operational efficiencies we have made during the integration process, we are perfectly placed to expand and develop to be one of the top players in the market – an ambition I believe that will be reflected in assets under management growth.”