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Orr staying at Skandia

Skandia Investment Management head of marketing David Orr has had pulled out of a move to Gartmore at the last minute.

Orr announced his intention to leave SIML in August but is understood to have decided to stay less than a week before he was due to start at Gartmore after getting a counter-offer.

He is involved in planning an unhedged dollar-denomin- ated version of the firm’s glo-bal real estate fund aimed at British investors abroad.

SIML takes 25 per cent of its business from offshore investors into its UK funds. Chief executive Jamie Macleod says says: “An increasing percentage of our business is coming from offshore inves-tors into our UK range and this latest launch reflects our continued desire to appeal to these markets. It is a matter of getting the distribution right. Orr is one of the best marketers in the industry and I am delighted that he has reconsidered his decision.”

Gartmore communications manager Kimberley Robin- son says: “We understand it would have been a hard decision for Orr but we respect his choice to remain where he is after being offered additional responsibilities.”


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