Feeney: OMGI single-strategy business 'less aligned' with Old Mutual Wealth

Due to be sold

clock • 2 min read

Old Mutual Wealth's chief executive Paul Feeney has revealed more details about the rationale behind its split of Richard Buxton-led Old Mutual Global Investors (OMGI), with the single strategy part up for sale.

It was revealed in September that Old Mutual Wealth was planning to carve a ready-made £16bn multi-asset business out of its fund management operations, running it separately from OMGI's existing single-strategy range. According to reports, OMGI chief executive Richard Buxton had already been talking to private equity firms about a management buyout of his single-strategy part of the group. Bidders are believed to include Australian firms Macquarie and Challenger, US private equity group Carlyle and TA Associates.  Speaking at an analyst conference, Feeney (pictured) said the firm ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth Management

Redington head of global assets Gillespie: Do you trust your DFM?

Redington head of global assets Gillespie: Do you trust your DFM?

Five key questions to ask

Tara Gillespie
clock 31 January 2024 • 4 min read
Capgemini head of capital markets: Four key calls for the wealth sector in 2024

Capgemini head of capital markets: Four key calls for the wealth sector in 2024

Generational wealth transfer

Gareth Wilson
clock 23 January 2024 • 4 min read
Defaqto unveils Consumer Duty profiles for top 20 model portfolios

Defaqto unveils Consumer Duty profiles for top 20 model portfolios

Structured around FCA's four key outcomes

Valeria Martinez
clock 19 December 2023 • 1 min read
Trustpilot