Old Mutual Asset Management Appoints Julian Ide as Head of Global Distribution and CEO of London-Based Affiliate Old Mutual Asset Managers (UK)

BOSTON, Oct. 4, 2011 /PRNewswire/ -- Old Mutual Asset Management (OMAM), the U.S.-based global asset management business of Old Mutual plc, announced today it has appointed Julian Ide as Head of OMAM Global Distribution and Chief Executive Officer of Old Mutual Asset Managers (UK) Limited (OMAM UK). Mr. Ide succeeds Peter Baxter who is leaving the firm to pursue other opportunities. OMAM UK is a London-based investment boutique and affiliate of OMAM with approximately 4.5 billion pounds Sterling of assets under management.  

Mr. Ide will report to Peter L. Bain, Chief Executive Officer of OMAM and will complete the formation of Mr. Bain's Executive Team.

As part of his role, Mr. Ide will spearhead OMAM's global distribution efforts in Europe, Asia and the Middle East to support the continued growth of OMAM's affiliate managers. In addition, he will oversee OMAM UK's investment teams, product offerings and successful retail and institutional distribution efforts.

"After a very thorough search, we are confident Julian brings the right experience and knowledge to bear and he will be an excellent and complementary addition to our OMAM Executive Team," said Mr. Bain. "As both CEO of OMAM UK and OMAM's Head of Global Distribution, Julian will develop our talent and products to drive future growth for the benefit of our existing and future clients."

Mr. Ide's appointment is consistent with OMAM's ongoing initiative to refine and focus its global distribution strategy, particularly with respect to the non-U.S. markets. OMAM believes its multi-boutique capabilities, matched with its unique relationship with Old Mutual plc, position it to take an active role in building business outside the U.S.

Mr. Ide's arrival, coupled with OMAM's simultaneous announcement today of its divestiture of its U.S. retail mutual fund business, marks an important step in building core competencies in markets where OMAM can meaningfully contribute to its affiliates' global expansion efforts.

"I am excited to help bring OMAM and OMAM UK into the next stage of global growth," said Mr. Ide. "By properly leveraging the benefits of our multi-boutique model, we have the opportunity to accelerate the growth of OMAM UK's existing talent and products and thoughtfully introduce capabilities that our other affiliate managers can offer for the benefit of our clients around the globe."

Julian joins from BBVA Asset Management where he was Head of Institutional Business. Prior to this, Julian spent most of his career in a number of senior roles at Merrill Lynch Mercury, ABN AMRO Asset Management and Credit Suisse Asset Management. Julian holds a degree in Law from the University of Cambridge.

About Old Mutual Asset Management

OMAM is a global multi-boutique investment organization, managing and growing a diverse portfolio of asset managers that serve institutional and individual investors around the world. The assets under management of OMAM's 18 affiliated investment firms were $260 billion as of June 30, 2011. OMAM is the name through which Old Mutual (US) Holdings Inc. conducts its US asset management business. Its parent company is London-based Old Mutual plc. More information on OMAM, its member firms, and their investment teams and strategies, is available at www.oldmutualus.com.

About Old Mutual Asset Managers (UK) Limited

OMAM UK, based in London, is a specialist investment firm focused exclusively on asset management. OMAM UK manages approximately 4.5 billion pounds (as of June 30, 2011) in relative and absolute return funds and segregated managed accounts for retail and institutional clients.

About Old Mutual plc

Old Mutual plc is an international long-term savings, protection and investment Group. Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 15 million customers in Europe, the Americas, Africa and Asia. Old Mutual plc is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others. 

SOURCE Old Mutual Asset Management