Old Mutual Global Investors will be renamed Merian Global Investors from the autumn.
The name change follows the completion of the sale of the single-strategy business to TA Associates last week.
The exact date of the renaming is yet to be confirmed with OMGI going by its current name until then.
OMGI chief executive Richard Buxton says: “The Merian name represents our core belief that investors should not be constrained by a ‘house view,’ demonstrating our understanding that investment can be considered both an art and a science.”
OMGI also released further information about the sale of the business. OMGI now has majority voting rights, controlled by the six leading investors and the wider leadership team, with the remainder controlled by TA Associates.
Permanent employees are also now part of a new remuneration structure aligned with the company’s equity value. Members of the leadership team will be directly invested in the firm.
Buxton says: “We understand the value our clients ascribe to ‘true’ active management; investing their money and faith in the understanding that we aim to manage funds that perform in line with their expectations.”
He adds: “It is important our investment teams have equity in the business, to further align their interests with those of our clients.”