Richard Buxton was appointed CEO of Old Mutual Global Investors, a spokeswoman said.
Mr. Buxton, whose appointment is subject to regulatory approval, will replace Julian Ide, who is resigning and will explore new opportunities, said a news release from OMGI. Further details were not available by press time.
Mr. Buxton will be responsible for the investment leadership of the money manager, which has £22.4 billion (34.7 billion) in assets under management. His new duties includes his existing role as head of U.K. equities, the spokeswoman said.
Also, Warren Tonkinson was appointed managing director of OMGI, a new position that reports to Mr. Buxton. Mr. Tonkinson also retains his current role as head of global distribution.
“I joined OMGI to help build an outstanding investment management business over the coming years, primarily through investment leadership and managing my U.K. alpha funds,” Mr. Buxton said in the news release. “Today's announcement is completely aligned with that goal, and I look forward to contributing further to the realization of OMGI's ambitions. Investment remains my first passion and priority – I would not have accepted any additional responsibilities which would compromise my ability to invest on my clients' behalf.”