Old Mutual Asset Managers UK has appointed Julian Ide as chief executive and head of global distribution.
Ide takes over from chief investment officer and chief executive Peter Baxter who is leaving the firm to pursue other opportunities. The firm is not appointing a new CIO.
Ide joins from BBVA Asset Management where he was head of institutional business. Before that, he worked at Merrill Lynch Mercury, ABN Amro Asset Management and Credit Suisse Asset Management.
He will oversee the UK investment teams, product offerings and retail and institutional distribution. He will report to Old Mutual Asset Management chief executive Peter Bain.
Ide’s appointment comes as the firm announces the divestiture of the US retail mutual funds business, as a separate entity to the UK business.
Bestinvest senior analyst Ben Seager-Scott says: “Ide joins at an interesting time as the US-based parent company is seeking to improve its distribution strategy outside of the US. Once Ide is settled in, we look forward to hearing more about their continuing strategy.
“It is noteworthy he is both chief executive of the UK asset management arm and head of global distribution, meaning we may see some tangible changes in the future in terms of growing the firm’s distribution strategy outside the US.”