Skandia Investment Function
Old Mutual PLC
11 October 2007
Old Mutual plc
Ref: 61/07
11 October 2007
Skandia Launches Global Investment Management Function
Skandia Group, a member of Old Mutual plc, today announces the launch of Skandia
Investment Group (SIG), a new global investment management function which will
be one of the world's largest MultiManager investment businesses. It will
manage combined assets of circa £60 billion across a variety of MultiManager and
open architecture investment solutions.
Skandia Investment Group will be responsible for the manufacture and delivery of
investment propositions on behalf of Skandia's three core market facing
businesses - Skandia Europe & Latin America (ELAM), Skandia Nordic and Skandia
UK & Offshore. These investment propositions within SIG will include
MultiManager portfolios, research selected funds, structured products and open
architecture fund platforms. The client and distributor facing activities will
remain in the market facing businesses.
Jamie MacLeod has been appointed as CEO of SIG and will report directly into
Julian Roberts, CEO of the Skandia Group and Old Mutual Director for Europe.
MacLeod will also retain his current position of CEO of Skandia Investment
Management in the UK as well as the UK's Asset Management Division. He brings a
wealth of specialist asset management experience to this new role including a
strong track record in managing a centralised asset management function for
Skandia's UK and Offshore business.
Julian Roberts, chief executive officer of Skandia Group and Old Mutual Director
for Europe comments:
'Through the launch of SIG, we are taking a significant step forward towards
realising our brand promise of 'enabling intelligent investment choice.' A
dedicated global investment function delivering leading, innovative investment
solutions and practice on behalf of Skandia's local businesses is great news for
customers, distributors, staff and shareholders. I am confident that this
reinforces the leading position of Skandia as a global MultiManager and open
architecture investment provider.'
Ends
Enquiries
James Crampton Old Mutual +44 (0)20 7002 7133
Charlie Musson Skandia Investment Group +44 (0)23 8091 6099
Tony Friend College Hill +44 (0)20 7457 2020
Richard Pearson College Hill +44 (0)20 7457 2020
Notes to editors
Skandia
Skandia, a 99.1% subsidiary of Old Mutual plc, is one of the world's leading
independent providers of quality solutions for long-term savings. Founded in
Sweden in 1855, Skandia currently operates in over 20 countries, with the United
Kingdom and Sweden as its largest markets.
Skandia UK focuses on long-term savings. It offers unit-linked investments
through an open-architecture 'fund platform' enabling access to a wide range of
funds from external managers as well as Skandia's own multi-manager funds
provided by Skandia Investment Management. Skandia solutions are distributed via
independent financial advisers only, targeting affluent customers. Investments
in Skandia are unit-linked, backed by over 900 external funds selected by
advisers and their clients. With over a million customers and £39 billion under
management, Skandia is one of the fastest growing UK savings companies.
Headquartered in Stockholm, Skandia Nordic, which principally comprises the
Swedish business and its mutual subsidiary, Skandia Liv, holds a leading
position in the Swedish life assurance market measured by new business, with a
combined customer base of 1.9 million customers. Skandia has been in the Swedish
market for over 150 years and its business in Sweden offers a full set of
financial products. It also has a growing unit-linked and life business in
Denmark, as well as healthcare. In Norway, it has a successful banking operation
and offers healthcare products.
Skandia Europe and Latin America has operations in 11 European countries
(Germany, Austria, Italy, Spain, Switzerland, Liechtenstein, France, Poland,
Portugal, the Czech Republic and Hungary) and three Latin American countries
(Colombia, Mexico and Chile). The business focuses on being a market-leading
niche player by providing unit-linked and mutual products through
open-architecture platforms.
Further information and photos of management are available on www.skandia.com
Old Mutual
Old Mutual plc is an international savings and wealth management company based
in the UK. Originating in South Africa in 1845, the group has a balanced
portfolio of businesses offering asset management, life assurance, banking and
general insurance services in over 40 countries, primarily South Africa, Europe
and the United States. Old Mutual is listed on the London Stock Exchange and the
JSE Limited, among others.
In the year ended 31 December 2006, the group reported adjusted operating profit
of £1.4 billion (IFRS basis). Old Mutual had £263 billion of funds under
management and 53,000 employees at 30 June 2007.
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com
This information is provided by RNS
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