Threadneedle name changed amid Columbia link-up

Threadneedle name changed amid Columbia link-up

Threadneedle Investments is to undergo a name change as its owner firm continues to link the London-based fund house with recent acquisition Columbia Management.

Threadneedle will be renamed as Columbia Threadneedle Investments “in early 2015”, as owner group Ameriprise Financial looks to highlight its purchase of a US-based fund house to UK investors.

“The investment strategies, philosophies and processes of both firms will not change as a result of the new global brand,” said Threadneedle in a statement this morning.

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The change comes after Threadneedle began drawing attention to its new “affiliate” firm in 2012 when its head of US equities, Cormac Weldon, resigned after nearly 17 years. At the time Threadneedle said it would place more emphasis on its relationship with Columbia as it replaced Mr Weldon’s role.

Ameriprise bought Columbia from Bank of America for roughly $1bn in early 2010.

According to Threadneedle the firm is currently the 11th largest manager of long-term mutual fund assets in the US with $358bn under management as of September 30.

“The new brand – Columbia Threadneedle Investments – will reinforce the strength of both firms in established markets of the UK, Europe and the US and will enable the group to grow its presence in key markets including Asia Pacific, Latin America and the Middle East,” Threadneedle added.