12th August 2015 - Old Mutual Global Investors have announced that, with immediate effect, Julian Ide is stepping down from his role as CEO and has been replaced by Richard Buxton, manager of the Elite Rated Old Mutual UK Alpha fund, which is on the Chelsea Core Selection.
In a letter to investors, Richard explained that the changes in the leadership structure have come as part of a wider move by Old Mutual Wealth to bring its investment capabilities, Old Mutual Global Investors and Quilter Cheviot, closer together in one investment division.
Warren Tonkinson has also been appointed to the newly-created position of Managing Director and will work alongside Richard focusing on key non-investment areas of the business.
Darius McDermott, managing director of Chelsea, commented: “Richard will continue to manage the Old Mutual UK Alpha fund and, whilst his commitments have increased, we believe the fund should remain on the Core Selection. We are meeting with Richard in early September to discuss the changes in more detail and will provide an update at that time if we feel it is necessary.”