Richard Buxton, head of U.K. equities at Schroders, will join Old Mutual Global Investors also as head of U.K. equities, Old Mutual spokeswoman Vee Montebello said.
In addition, Errol Francis — portfolio manager at Schroders who works with Mr. Buxton — will also join Old Mutual as portfolio manager. Both will be leaving Schroders on June 14 to assume their roles at Old Mutual Global Investors, the fund manager with about £14 billion ($21 billion) created in April 2012 from the combination of Old Mutual Asset Managers (UK) and Skandia Investment Group’s multimanager team.
At Old Mutual, Mr. Buxton will replace Ashton Bradbury, who will focus on his existing responsibilities as investment manager of Old Mutual UK Specialist Equity Fund, a long/short hedge fund. Replacements for Messrs. Buxton and Francis at Schroders have not been named, according to a Schroders spokeswoman.