Old Mutual hires former Thames River COO

Old Mutual Wealth Management announced today (6 July) that Jeremy Charles has been appointed chief operating officer.

Mr Charles will take up his new position on 9 July and will be responsible for aligning all the operations and technology functions across the wealth management businesses.

He was previously chief operating officer of Thames River Capital and Foreign & Colonial. Prior to that he held a number of senior investment consulting and chief operating officer roles with firms such as CSTIM Limited, UBS and Coutts NatWest Group.

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In his new role he will report into Paul Feeney, chief executive of Old Mutual Wealth Management.

Old Mutual Wealth Management comprises Skandia UK, Skandia International, its European businesses, Skandia Investment Group and Old Mutual Asset Managers (UK). The business has assets under management of £63bn.

Earlier this year, the company announced that Skandia Investment Group and Omam UK would merge and be rebranded.

Julian Ide, currently chief executive officer of Omam UK, will run the combined entity, with SIG’s chief investment officer James Millard being named as CIO of the combined business.

Mr Feeney said: “The strength of the businesses within Old Mutual Wealth Management provides a great opportunity to build high quality investment solutions for financial advisers and customers.

“In order to do that we need a strong and efficient operational platform and I am delighted to welcome someone of the calibre of Jeremy to the business to lead that development.”

Mr Charles said: “It is a very exciting time to be joining the business. Changing customer demands and regulation across all of our markets presents significant opportunities for growth and I am looking forward to being part of the team that can capitalise on those opportunities.”