Peter Bain is stepping down from his roles as president, chief executive officer and director of Old Mutual Asset Management on 30 June, the company has announced.
Bain, who held these positions since 2011, will be succeeded by OMAM board director James J. Ritchie in the interim while the board conducts a search for the company's next CEO. The move follows years of restructuring, including a public listing on the New York Stock Exchange. Last year parent Old Mutual announced it was to split up its divisions, which also include Old Mutual Wealth, to be sold off as separate entities. Bain said: "I am very proud of what we've achieved over the last six years. I am happy to hand over the business in good shape and want to thank my team for thei...
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