keting and client servicing at Old Mutual Asset Managers, and several support staff, have left the g...
keting and client servicing at Old Mutual Asset Managers, and several support staff, have left the group as part of a restructuring exercise to combine its sales and marketing teams.
Andrew Lightbown, director of retail and institutional sales at Old Mutual, will now become director of sales and marketing for the newly combined team.
Lightbown said: 'Market conditions are difficult. Chief executive John Ainsworth has examined the structure of his executive team in the light of market conditions and has decided to combine the sales and marketing functions as a cost-cutting measure.'
Russell became director of marketing and client servicing at Old Mutual when the group merged with the investment arm of Gerrard in December last year, following his position as sales and marketing director at Gerrard. He replaced Ian Pascal, who is now at Barings.
The move is just the latest from Old Mutual. At the beginning of last month, the group let go its entire active European equity team, headed up by Adrian Farthing, and turned the funds under management over to its structured equities team.
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