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Ex-Gartmore distribution head Wagstaff is Skandia new chief exec

Skandia Investment Group has appointed former Gartmore global head of distribution Phil Wagstaff as chief executive.

The appointment, subject to regulatory approval, sees interim chief executive Marc Bulstrode return to his chief operating officer role. It is not yet known when Wagstaff will be joining Skandia. Wagstaff was a member of Gartmore’s executive committee and led the retail and institutional channel for sales, marketing, product development and business management. He was previously at New Star as managing director, sales & marketing. He also previously worked at M&G as retail managing director.

A Skandia spok-esman says: “Phil Wagstaff’s depth of experience will be invaluable in leading Skandia Investment Group to further its position as a worldclass investment manager.”

Gartmore was bought by Henderson in April. Wagstaff, and head of UK retail Richard Pursglove, both said they would not be joining the new group. Pursglove joined Goldman Sachs to lead the sales and marketing team this month.

Whitechurch Securities managing director Gavin Haynes says: “I am sure Wagstaff will have some very strong ideas about how Skandia will continue to develop what is a very strong distribution and investment proposition.”

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