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Old Mutual makes BNY Mellon hire following shake-up

Old Mutual has appointed BNY Mellon director of product strategy Celeste Dias to the role of head of product development.

The provider has also announced that Omam UK chief operating officer Paul Nathan will become chief risk officer as part of the merger of Old Mutual Asset Management and Skandia Investment Group announced last week.

Nathan has taken up the role immediately while a join date for Dias is yet to be confirmed, but will be in the coming months.

Dias is leaving BNY Mellon at the end of May and the firm is currently seeking a replacement. Dias was previously head of product development at Threadneedle Investments from 2006 to 2009.

Skandia Investment Group chief operating officer Marc Bulstrode has taken on Nathan’s responsibilities for Omam UK as he has become chief operating officer for the whole business.

Other senior members of the business include chief investment officer James Millard and head of marketing Marcus Bolitho.

The senior management team of the new business is now undertaking a full review of its combined operations and, subject to regulatory approval, expects to make further announcements about its strategy in the third quarter of 2012.


Trust in US

Last week, James Abate, who runs the PSigma North American fund, made one of his regular visits to London to update investors with his current thoughts. He was a colleague of the founders of PSigma’s fund management business, Ian Chimes and Bill Mott, at Credit Suisse. Abate runs the fund from his boutique in New […]

Osborne refuses to back EU bank capital rules

Chancellor George Osborne has refused to back European Commission proposals to implement new capital requirements on banks, claiming they are out of line with what was agreed at a global level and risk making him “look like an idiot”. The European Commission’s proposals for the capital requirements directive IV, published in July, are supposed to […]


What Advisers Are Saying: Indy Vs restricted

Estragon: “Nothing to be done.” Vladimir: “I’m beginning to come round to that opinion.” I attended the excellent Winning Advisers event last week, with key decision-makers from some of the top advisory business. During one session, weighing up the merits of independent v restricted models, I couldn’t help but think of Waiting for Godot, Samuel […]


Pensions regulator eases DB funding demands

The Pensions Regulator has confirmed it plans to give employers with defined-benefit pension schemes “greater breathing space” to fill deficits. Over the past year, the eurozone crisis and the Government’s quantitative easing programme have caused a spike in demand for UK gilts. As a result, gilts are becoming more expensive, depressing interest rates and reducing […]


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