Invista Capital Management lifted out a team of large-cap growth U.S. equity managers from Skandia Asset Management. Invista is opening an office in New York, headed by Mary Sunderland, who brought her whole team with her from Skandia, including Michael Gelsomino, Frank Cioffi and Mark DaSilva. At Skandia, the team managed $3 billion in U.S. large-cap growth stocks for its Swedish parent company, Skandia Insurance. A spokeswoman for Invistas parent company, Principal Financial Group, said the team will give both Invista and Principal needed growth equity management capability. The team will begin managing $1.4 billion for Invista immediately. Skandia Asset Management is in "maintenance mode, as CIO Stefan Carlsson searches for a new equity team, said Janet Early, the companys CFO. Mr. Carlsson is negotiating with possible replacements, who may be in place within a month. Niklas Lundin will arrive in New York next week from Stockholm to assume interim management of U.S. equity assets, with assistance from Filip Boman, one of the growth teams members who is based in Stockholm.