Old Mutual Global Investors (OMGI) multi-asset head John Ventre is to leave the business as the group overhauls its multi-asset offering, Investment Adviser can reveal.
OMGI is to merge the Old Mutual multi-asset team with members of its discretionary fund management business Quilter Cheviot.
The new 24-member multi-asset investment solutions team will be co-run by Anthony Gillham of OMGI and Quilter Cheviot head of research Ben Mountain.
Mr Ventre (pictured), who runs the risk rated Spectrum range and has been at the firm since 2008, will pass on these responsibilities to Mr Gillham.
Mr Gillham will also take over management of the Voyager range with Sacha Chorley, an existing member of the OMGI team. The one exception will be the Voyager Global Dynamic fund, which will now be managed by Mr Gillham and Lee Freeman-Shor.
Global Dynamic Equity fund manager François Zagamé and head of investment solutions Stewart Cazier will also be leaving the fund group as part of the reshuffle.
Mr Zagamé has been at the group since 2007. Mr Cazier left his role as chief operating officer of distribution at Old Mutual Wealth earlier this year to launch the investment solutions team at OMGI.
“Other fund ranges managed by the OMGI team remain under review and will be managed by the team until further notice,” the fund house said in a statement.
There will be no change to the Old Mutual Cirilium range, the Old Mutual Managed fund, the Old Mutual Global Best Ideas and the Old Mutual European Best Ideas funds. The Quilter and WealthSelect model portfolio services will also remain the same.
The shake-up comes soon after OMGI’s new CEO Richard Buxton told Investment Adviser the group was planning to create closer links between its multi-asset team and discretionary manager Quilter Cheviot.
His comments followed Old Mutual Wealth’s decision last month to create a new investment division, led by Quilter Cheviot chief executive Martin Baines, made up of both Quilter Cheviot and OMGI.
The company claimed this move presents an opportunity “to leverage the combined investment knowledge of both businesses... particularly within the multi-asset areas”.
