Skandia’s director of investments James Millard has left the company by mutual consent following the decision to move the management of its forthcoming Select fund range to Old Mutual Global Investors (OMGI).
Mr Millard was appointed to the director of investments role earlier this year to oversee the management and development of the Select range - a set of funds run by external managers which will be used as ‘building blocks’ for model portfolios when they are launched next year.
But the model portfolios are now set to be run by OMGI’s multi-manager team, led by John Ventre, which was the trigger for Mr Millard to leave Skandia.
A spokesperson for Skandia said the firm’s investment solutions team will continue to be led by Dean Bowden. Mr Bowden and his team will continue to develop Select and other products.