Old Mutual Wealth, has created an investment division under the leadership of Martin Baines, who steps up from being CEO of  Quilter Cheviot to become Chief Investment Director of Old Mutual Wealth. The CEOs of Quilter Cheviot and Old Mutual Global Investors (OMGI) will report to Martin.
In Quilter Cheviot, David Loudon, a company and industry veteran with 25 years’ experience, is stepping up to be CEO.
Richard Buxton, one of the UK’s most respected investors, becomes CEO of OMGI alongside the management of his portfolio.
Reporting to Richard, Warren Tonkinson becomes MD of OMGI, enabling Richard to remain focused on his fund whilst providing overall investment leadership as CEO.
Julian Ide is stepping down as CEO of OMGI and leaves with our gratitude and good wishes.
This presents the opportunity to more effectively leverage the combined investment knowledge of Quilter Cheviot and OMGI for the benefit of all our clients, particularly in the multi asset areas. However, the brands and propositions of both remain distinct and their independence in regard to investment selection will be maintained and is assured.
Paul Feeney, CEO of Old Mutual Wealth, comments:
"At the heart of our wealth proposition is our ability to bring together the best investment minds in the market for the benefit of our clients. It therefore makes sense to bring Quilter Cheviot and OMGI together within one division under the leadership of Martin.
“I’m extremely grateful to Julian for his leadership in growing OMGI to be the exceptional business it is today. The quality of what Julian has created and the talent he has attracted is unparalleled in recent asset management history. OMGI’s phenomenal bench strength is a testimony to what Julian has delivered for clients.
“I can think of no better person to appoint as CEO of OMGI than Richard – his experience, exceptional investment skill and his principles will take our asset management business forward with a clear focus on delivering the wealth creation that is at the heart of our business.
“David's unremitting client focus and immense experience makes him the ideal CEO for Quilter Cheviot. It is business as usual for our discretionary fund managers who will continue to pick the right investment solutions to protect and increase their clients’ prosperity.”
Richard Buxton comments:
“I joined OMGI to help build an outstanding investment management business over the coming years, primarily through investment leadership and managing my UK Alpha funds. Today’s announcement is completely aligned with that goal and I look forward to contributing further to the realisation of OMGI’s ambitions. Investment remains my first passion and priority – I would not have accepted any additional responsibilities which would compromise my ability to invest on my clients’ behalf.”
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