OMGI eyes absolute return strategies in precious metals with new hire


Old Mutual Global Investors has announced it will be assessing client demand for alternative commodities products as it appoints Diego Parrilla to be the newly created role of managing director of commodities.

Parrilla joined the firm from Dymon Asia Capital earlier this month and will be based in Singapore, reporting to investment director Paul Simon.

OMGI says Parrilla will work with the management team to assess client demand and market suitability for absolute return strategies across precious metals and commodities.

He will also be responsible for promoting and building the Old Mutual Gold & Silver fund, which launched in March, to institutional investors in Singapore.

“We are seeing a perfect storm in the gold markets whereby central banks and global markets are testing the limits of monetary policy, credit markets, and fiat currencies, which in my view support a multi-year bull market for precious metals,” Parilla said in a statement.

OMGI chief executive Richard Buxton describes Parrilla as a respected investor and commodities economist.

“At OMGI we recognise that precious metals have become an increasingly important asset class as investors look to hedge against the impact of modern monetary policy.”

Before Dymon Asia Capital, Parrilla, who started his career as a precious metals trader at JP Morgan, held roles at BlueCrest Capital Management, Merrill Lynch and Goldman Sachs.

He is the author of The Energy World Is Flat: Opportunities From The End of Peak Oil and La Madre De Todas Las Batallas (The Mother of All Battles).