11th Oct 2007 10:00
Old Mutual PLC11 October 2007 Old Mutual plc Ref: 61/07 11 October 2007 Skandia Launches Global Investment Management Function Skandia Group, a member of Old Mutual plc, today announces the launch of SkandiaInvestment Group (SIG), a new global investment management function which willbe one of the world's largest MultiManager investment businesses. It willmanage combined assets of circa £60 billion across a variety of MultiManager andopen architecture investment solutions. Skandia Investment Group will be responsible for the manufacture and delivery ofinvestment propositions on behalf of Skandia's three core market facingbusinesses - Skandia Europe & Latin America (ELAM), Skandia Nordic and SkandiaUK & Offshore. These investment propositions within SIG will includeMultiManager portfolios, research selected funds, structured products and openarchitecture fund platforms. The client and distributor facing activities willremain in the market facing businesses. Jamie MacLeod has been appointed as CEO of SIG and will report directly intoJulian Roberts, CEO of the Skandia Group and Old Mutual Director for Europe.MacLeod will also retain his current position of CEO of Skandia InvestmentManagement in the UK as well as the UK's Asset Management Division. He brings awealth of specialist asset management experience to this new role including astrong track record in managing a centralised asset management function forSkandia's UK and Offshore business. Julian Roberts, chief executive officer of Skandia Group and Old Mutual Directorfor Europe comments: "Through the launch of SIG, we are taking a significant step forward towardsrealising our brand promise of "enabling intelligent investment choice." Adedicated global investment function delivering leading, innovative investmentsolutions and practice on behalf of Skandia's local businesses is great news forcustomers, distributors, staff and shareholders. I am confident that thisreinforces the leading position of Skandia as a global MultiManager and openarchitecture investment provider." Ends Enquiries James Crampton Old Mutual +44 (0)20 7002 7133 Charlie Musson Skandia Investment Group +44 (0)23 8091 6099 Tony Friend College Hill +44 (0)20 7457 2020Richard Pearson College Hill +44 (0)20 7457 2020 Notes to editors Skandia Skandia, a 99.1% subsidiary of Old Mutual plc, is one of the world's leadingindependent providers of quality solutions for long-term savings. Founded inSweden in 1855, Skandia currently operates in over 20 countries, with the UnitedKingdom and Sweden as its largest markets. Skandia UK focuses on long-term savings. It offers unit-linked investmentsthrough an open-architecture 'fund platform' enabling access to a wide range offunds from external managers as well as Skandia's own multi-manager fundsprovided by Skandia Investment Management. Skandia solutions are distributed viaindependent financial advisers only, targeting affluent customers. Investmentsin Skandia are unit-linked, backed by over 900 external funds selected byadvisers and their clients. With over a million customers and £39 billion undermanagement, Skandia is one of the fastest growing UK savings companies. Headquartered in Stockholm, Skandia Nordic, which principally comprises theSwedish business and its mutual subsidiary, Skandia Liv, holds a leadingposition in the Swedish life assurance market measured by new business, with acombined customer base of 1.9 million customers. Skandia has been in the Swedishmarket for over 150 years and its business in Sweden offers a full set offinancial products. It also has a growing unit-linked and life business inDenmark, as well as healthcare. In Norway, it has a successful banking operationand offers healthcare products. Skandia Europe and Latin America has operations in 11 European countries(Germany, Austria, Italy, Spain, Switzerland, Liechtenstein, France, Poland,Portugal, the Czech Republic and Hungary) and three Latin American countries(Colombia, Mexico and Chile). The business focuses on being a market-leadingniche player by providing unit-linked and mutual products throughopen-architecture platforms. Further information and photos of management are available on www.skandia.com Old Mutual Old Mutual plc is an international savings and wealth management company basedin the UK. Originating in South Africa in 1845, the group has a balancedportfolio of businesses offering asset management, life assurance, banking andgeneral insurance services in over 40 countries, primarily South Africa, Europeand the United States. Old Mutual is listed on the London Stock Exchange and theJSE Limited, among others. In the year ended 31 December 2006, the group reported adjusted operating profitof £1.4 billion (IFRS basis). Old Mutual had £263 billion of funds undermanagement and 53,000 employees at 30 June 2007. For further information on Old Mutual plc, please visit the corporate website atwww.oldmutual.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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