Old Mutual Asset Management Appoints Michael Raso as Director of Institutional Retirement

BOSTON, July 11, 2011 /PRNewswire/ -- Old Mutual Asset Management (OMAM), the U.S.-based global asset management business of Old Mutual plc, today announced the appointment of Michael Raso as Senior Vice President and Director of Institutional Retirement reporting to Brian Carroll, Head of U.S. Institutional Distribution.

Mr. Raso will join Mr. Carroll in further expanding OMAM's center-led sub-advisory efforts. Mr. Raso will also concentrate on further developing efforts into the defined contribution investment only (DCIO) space. His hiring advances OMAM's ongoing goal of complementing its affiliates' institutional distribution capabilities in select distribution channels.

Mr. Raso joins OMAM with a strong track record in growing sub-advisory and DCIO businesses within a multi-boutique model. Mr. Raso's focus will be on expanding OMAM and its affiliates' presence in major mutual fund complexes, insurance companies, retirement platforms and select areas within the consultant market that leverage external investment management talent.

"Mike understands how to leverage the strengths of the multi-boutique model and will be instrumental in identifying opportunities for our affiliates," said Peter L. Bain, OMAM's Chief Executive Officer. "Mike's experience in understanding the needs of these various markets makes him the right person to help take our expansion efforts forward."  

Prior to joining OMAM, Mr. Raso spent the last three and half years as a partner at Crosswind Investments, a Boston-based boutique. Previously, he was the Head of Defined Contribution at Artisan Partners, where he managed their $8.8 billion DCIO business.

In addition to his boutique experience, Mr. Raso served as Senior Vice President at IXIS Asset Management, now Natixis Global Associates. Prior to joining IXIS in 2002, he spent more than 12 years at Fidelity Investments in various management and sales roles. Mr. Raso holds a BA in Economics from Providence College in Rhode Island.

About Old Mutual Asset Management

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 $262 billion as of March 31, 2011. OMAM is the name through which Old Mutual (U.S.) Holdings Inc. conducts its U.S. 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 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