As the merger of Old Mutual Asset Managers and the Skandia Investment Group continues, Paul Feeney has been named as chief executive of the wealth management business.
Old Mutual Wealth Management is made up of Skandia UK, Skandia International, its European businesses, Skandia Investment Group and Old Mutual Asset Managers (UK), comprising a group with £63bn in assets under management.
He moves across from his role as chief executive of Old Mutual’s Long-Term Savings asset management business, a role effectively created for him when he joined in January from BNY Mellon Asset Management.
The change will be effective from 1 August when he will continue to report to Paul Hanratty, chief executive of the Long-Term Savings division, who has been running the wealth management business since the previous chief executive, Bob Head, resigned in September last year.