OMAM CEO Bain steps down after Old Mutual reduced stake in business

James Ritchie appointed interim replacement

Peter Bain, CEO of Old Mutual Asset Management, the US subsidiary of Old Mutual, is stepping down after six years in the role.

Bain, who is also stepping down from OMAM's board of directors, will be replaced by chairman of the board James Ritchie, who will serve as executive chairman and interim CEO while the firm completes the search for a full time replacement. Old Mutual enters next phase of managed separation Prior to OMAM, Bain was senior executive vice president at Legg Mason, where he served as head of affiliate management and corporate strategy, overseeing the firm's investment managers. He also served as Legg Mason's chief administrative officer, responsible for the firm's overall administration a...