Former OMGI chief Ide moves to ETF provider

Ide Julian Old MutualETF provider Source has hired former Old Mutual Global Investors head Julian Ide as its new chief executive.

Ide will join the ETF provider next month, as the provider says it hopes to become a leading and innovative provider of ETFs.

Former Source chief executive Ted Hood left the firm in a surprise move last year. In March he announced his departure from the company, which he co-founded in 2009.

OMGI announced Ide was leaving the firm in August last year, with star manager Richard Buxton taking on the chief executive role at the asset manager.

At the time Warren Tonkinson was also appointed managing director of OMGI to aid with running the business.

Ide was chief executive at OMGI from 2011, but has also worked at BBVA Asset Management, Credit Suisse Asset Management, ABN AMRO Asset Management and Schroders.

Lee Kranefuss, executive chairman at Source, said: “We are truly delighted to welcome Julian to the team at Source. He has an unparalleled reputation and track record in building and running asset management businesses and delivering exceptional products for clients.”

Around the time Hood left the firm last year chief development officer MJ Lytle left the company, while Source also closed its US ETF business.