Richard Buxton appointed OMGI chief exec

Buxton Richard Old Mutual

Richard Buxton has been appointed as chief executive of Old Mutual Global Investors, as Julian Ide steps down from the asset manager.

Star manager Buxton will continue to manage his funds alongside taking on the management of the asset manager. Warren Tonkinson has been appointed managing director of OMGI to aid with running the business.

Buxton says: “Investment remains my first passion and priority – I would not have accepted any additional responsibilities which would compromise my ability to invest on my clients’ behalf.

Old Mutual Wealth chief executive Paul Feeney adds: “I can think of no better person to appoint as CEO of OMGI than Richard – his experience, exceptional investment skill and his principles will take our asset management business forward with a clear focus on delivering the wealth creation that is at the heart of our business.”

Ide will step down from the post to “explore new opportunities”.

The asset manager has also made changes to the Old Mutual Wealth and Quilter Cheviot teams, bringing them together.

Martin Baines, who was previously chief executive of Quilter Cheviot, will now become chief investment director of Old Mutual Wealth. David Loudon will replace him as the head of Quilter Chieviot.

Loudon and Buxton will report to Baines.

The moves will combine the expertise in Quilter Cheviot and OMGI, particularly within the multi-asset teams, Old Mutual says.

Feeney adds: “It is business as usual for our discretionary fund managers who will continue to pick the right investment solutions to protect and increase their clients’ prosperity.”