Skandia today launches a new investment arm pooling together all its multi-manager business.
Skandia Group says Skandia Investment Group (SIG) will manage assets of around £60bn, making it one of the world's largest multi-manager firms.
It says SIG will be responsible for creating and delivering products for the firm’s three core market facing businesses - Skandia Europe & Latin America (ELAM), Skandia Nordic and Skandia UK & Offshore.
In addition, it says all the investment propositions within SIG will include multi-manager portfolios, research selected funds, structured products and open architecture fund platforms.
Skandia adds its three existing manufacturing and delivery vehicles - Skandia Global Funds, Skandia Fonder and Skandia Investment Management - will operate under the strategic and operational management of SIG.
As part of the launch, Jamie MacLeod has been appointed as chief executive of SIG and will report to Julian Roberts, chief executive of Skandia Group and Old Mutual director for Europe.
MacLeod will also retain his current position chief executive of Skandia Investment Management in the UK as well as the UK’s Asset Management Division.
Julian Roberts, chief executive officer of Skandia Group and Old Mutual director for Europe, says: “Through the launch of SIG, we are taking a significant step forward towards realising our brand promise of ‘enabling intelligent investment choice.’
A dedicated global investment function delivering leading, innovative investment solutions and practice on behalf of Skandia’s local businesses is great news for customers, distributors, staff and shareholders.
“I am confident that this reinforces the leading position of Skandia as a global multi-manager and open architecture investment provider.”
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