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Skandia/Selestia platform to launch in summer as Vasilieff quits

Skandia Life, Skandia MultiFunds and Selestia are set to merge into one combined business platform to be led by Brett Williams.

Skandia MultiFunds and Selestia marketing director Bill Vasilieff will leave the business this summer, when the new fund supermarket launches.

Both Selestia and Skandia sales forces will merge but the company says it does not expect any redundancies.

The combined sales teams will be headed up by sales director Dave Chessell, who will work alongside sales director, national accounts Steve Powell.

More details of the charging structures and platform features will be revealed towards the start of the summer, just prior to launch.

Development plans will include Skandia Life’s MultiManager pension, bond and protection products, the open-architecture fund supermarket and eventually a full wealth management service.

Billy Mackay will take on the role of head of marketing for the UK, Graham Bentley will become head of investment marketing for UK and Colin Jelley continues as head of tax and financial planning.

Williams says: “Traditional with-profits life companies are rushing to deliver unit-linked investment solutions and a plethora of ‘wrap-like’ services.

“Bill Vasilieff and I have been discussing his long term future for some time and this change is an ideal opportunity for him to move on whilst ensuring we have the resources in place to drive and develop the business in future.”

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