Old Mutual merges SIG with OMAM UK

Old Mutual is unifying its two UK asset management businesses, Old Mutual Asset Managers UK (OMAM UK) and Skandia Investment Group (SIG), into a single business with the view to rebrand under one name.

Julian Ide, currently CEO of OMAM UK, has been appointed as CEO of the combined business while James Millard has been made CIO, both with immediate effect. They will report to Paul Feeney, CEO of asset management for Old Mutual's Long Term Savings division. The senior management team are carrying out a full review of the combined operations and potential branding and expect to make further announcements by Q3.  The new asset management business, will drive Old Mutual Wealth Management, where other external brands Skandia UK, Skandia International (offshore) and Skandia Europe all sit.