OMGI rebrands as Merian Global Investors

OMGI rebrands as Merian Global Investors

Richard Buxton has renamed Old Mutual Global Investors (OMGI) as Merian Global Investors.

Mr Buxton, the company's chief executive and manager of one of its funds, partnered with private equity firm TA Associates to buy the business from Old Mutual as part of the company's demerger.

The name was chosen in tribute to Maria Sibylla Merian, a German scientist who debunked a number of myths of the time.

Article continues after advert

Mr Buxton said: "I’m incredibly proud to confirm that we will be named Merian Global Investors from this autumn. We believe Merian’s pioneering achievements, willingness to challenge the status quo and sheer strength of character truly symbolise our ethos and approach to doing business.

"Notably, the Merian name represents our core belief that investors should not be constrained by a ‘house view,’ demonstrating our understanding that investment can be considered both an art and a science."

Mr Buxton had previously said the company will have a majority of women on its executive board.

Last year he told FTAdviser the branding of the new business will contain a shade of green, though not the same shade of green in the current Old Mutual logo.

In a statement announcing the new name, the company said: "The newly independent business believes there are many synergies between the pioneering work and character of Merian and its vision, values and culture.

"Further, as a polymath, Merian embodied the multi-faceted approach OMGI takes to investment. With no centralised investment process or chief investment officer, the firm’s investment teams are free to pursue their own, proven strategies."

Merian will continue to be based in the same building near the Millenium Bridge in London as when part of the Old Mutual business.

This morning the company also announced members of Merian's leadership team, which would include "investment talent" from across the business, would be directly invested in the firm.

Darius McDermott, managing director at Chelsea Financial Services said he didn't consider Mr Buxton’s role as chief executive and co-owner of the business a cause for concern for investors in the £2.3bn Old Mutual UK Alpha fund he runs.

He said the recent underperformance of the fund was a function of the value style of investing deployed by Mr Buxton having been out of favour with the market.