The £25.7bn single-strategy business spun out from Old Mutual Global Investors' (OMGI) and sold to senior management, including chief executive Richard Buxton, and TA Associates will be capitalised to "attract new investment desks and fund managers", while Buxton will also remain as manager of the £2.3bn UK Alpha fund.
Parent firm Old Mutual Wealth confirmed this morning the single-strategy business will be sold in a £600m deal with TA Associates paying £570m in cash on or before completion and a further estimated £30m,...
Industry Voice: Investment priorities are changing. More and more people are concerned both with the investment returns they can make on their savings, and whether their money is being managed in a sustainable way.
Targeting cautious investors
Effective from 2 January 2019
Barry O'Dwyer and Campbell Fleming, both senior figures at Standard Life Aberdeen, are to become non-executive directors of Phoenix Group.
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