Old Mutual has appointed former BNY Mellon Asset Management head of distribution Paul Feeney as chief executive of asset management for the long-term savings division.
He is expected to take up the newly created position in early January, subject to regulatory approval.
Old Mutual’s long-term savings division offers life insurance, pensions and investment products.
Feeney will be responsible for the Old Mutual LTS asset management businesses across Skandia Investment Group, Old Mutual Investment Group South Africa and Nordic Asset Management.
He will report to Old Mutual LTS division chief executive Paul Hanratty.
Former Gartmore global head of distribution Phil Wag-staff, who was appointed chief executive of Skandia Investment Group last week, will report to Feeney.
Feeney says: “This is a wonderful opportunity. Old Mutual is an excellent business and I am looking forward to joining.”
Dennehy Weller managing director Brian Dennehy says: “Feeney knows the industry very well and is a good hire for Old Mutual.”