UPDATE: Wagstaff quits SIG for Henderson after just two weeks

Phil Wagstaff is leaving his role as chief executive of Skandia Investment Group, just two weeks after joining, to become global head of distribution at Henderson Global Investors.

Wagstaff will join former New Star and Gartmore colleagues at Henderson, which took over both fund firms in 2009 and 2011 respectively. He joins in January 2012, subject to FSA approval.

He will lead the retail, institutional and hedge fund distribution teams on a global scale.

Andrew Formica, chief executive of Henderson said: "Our strategy centres on our clients who are already benefitting from our investments in our distribution efforts. I am proud of what the team has achieved following our recent acquisitions.

"I am confident we can take a significant leap forward with the considerable experience and enthusiasm Wagstaff brings to the team we have in place."

Meanwhile, SIG said Paul Feeney will replace Wagstaff in the role of chief executive of SIG as well as within the Long Term Savings Division (LTS) of Old Mutual.

It was announced in September Feeney would be leaving his post as head of international distribution at BNY Mellon to join SIG. He will begin at SIG in January.

Meanwhile, Henderson Group released a trading update this morning to advise underlying profits for 2011 are expected to be between £155m and £159m. The group expects to earn £11m from performance fees in the second half of the year.

Full results will be announced on 29 February 2012.

Updated at 07.41 and 08.14.