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Old Mutual makes marketing director redundant

Old Mutual director of marketing and client servicing Barry Russell has been made redundant as part of the fund manager&#39s drive to cut costs in poor market conditions.

Following a review of its executive team, Old Mutual has merged its sales and marketing operations and laid off several staff members, the most senior of which is Russell, who joined the company from Gerrard after the merger last December.

His responsibilities will be taken over by director of retail and institutional sales Andrew Lightbown.

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