Old Mutual Asset Managers UK and Skandia Investment Group (SIG) are to be merged into a single business, to be headed by Julian Ide.
According to parent company Old Mutual, the combined business will be “the investment engine” behind its wealth management business.
Ide, who is currently chief executive of Old Mutual Asset Managers UK (Omam UK), will become chief executive of the combined business.
He will report to Paul Feeney, chief executive of asset management for Old Mutual’s long-term savings division.
The senior management team of the combined business is to undergo a full review of operations, with further strategy announcements due in the third quarter of 2012.