In Quilter Cheviot, David Loudon, a company and industry veteran with 25 years’ experience, is stepping up to be CEO.
Richard Buxton, one of the UK’s most respected investors, becomes CEO of OMGI alongside the management of his portfolio.
Reporting to Richard, Warren Tonkinson becomes MD of OMGI, enabling Richard to remain focused on his fund whilst providing overall investment leadership as CEO.
Julian Ide is stepping down as CEO of OMGI and leaves with our gratitude and good wishes.
This presents the opportunity to more effectively leverage the combined investment knowledge of Quilter Cheviot and OMGI for the benefit of all our clients, particularly in the multi asset areas. However, the brands and propositions of both remain distinct and their independence in regard to investment selection will be maintained and is assured.
Paul Feeney, CEO of Old Mutual Wealth, comments:
"At the heart of our wealth proposition is our ability to bring together the best investment minds in the market for the benefit of our clients. It therefore makes sense to bring Quilter Cheviot and OMGI together within one division under the leadership of Martin.
“I’m extremely grateful to Julian for his leadership in growing OMGI to be the exceptional business it is today. The quality of what Julian has created and the talent he has attracted is unparalleled in recent asset management history. OMGI’s phenomenal bench strength is a testimony to what Julian has delivered for clients.
“I can think of no better person to appoint as CEO of OMGI than Richard – his experience, exceptional investment skill and his principles will take our asset management business forward with a clear focus on delivering the wealth creation that is at the heart of our business.
“David's unremitting client focus and immense experience makes him the ideal CEO for Quilter Cheviot. It is business as usual for our discretionary fund managers who will continue to pick the right investment solutions to protect and increase their clients’ prosperity.”
Richard Buxton comments:
“I joined OMGI to help build an outstanding investment management business over the coming years, primarily through investment leadership and managing my UK Alpha funds. Today’s announcement is completely aligned with that goal and I look forward to contributing further to the realisation 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.”
Note: new appointments are subject to regulatory approval.
Vee Montebello – 020 7332 7687
Amelie Shepherd – 020 7332 8345
Notes to Editors
This press release is for journalists only and should not be relied upon by financial advisers or customers.
Martin Baines is Chief Executive Officer of Quilter Cheviot. He has over 25 years’ experience in the stockbroking and investment management industry.
He became a Director of Quilter in 1998 and joined the Management Group in 1999. He also served as Chief Executive Officer of Quilter Fund Management Limited. Martin has previously served as Head of Onshore Branches, with specific responsibility to build the UK branch network. Following the purchase of Quilter by Morgan Stanley in 2001, Martin was appointed as a Managing Director of Morgan Stanley in 2002 and Chief Executive Officer of Quilter in 2003.
In 2011/2012, Martin led the Bridgepoint backed buyout of Quilter from Morgan Stanley. The Quilter business then merged with Cheviot, a leading London based investment management. Post integration of the two companies, Martin led the subsequent deal process which resulted in Quilter Cheviot becoming part of Old Mutual Wealth, a leading UK wealth business.
After graduating in economics, he trained originally with KPMG before beginning a career in stockbroking and investment management. Martin is a fellow of the Securities Institute.
Richard joined Old Mutual Global Investors as Head of UK Equities in June 2013. He was previously Head of UK Equities at Schroders, where he managed the Schroders UK Alpha Plus Fund for over 10 years. Prior to Schroders he spent over a decade at Baring Asset Management, having commenced his investment career in 1985 at Brown Shipley Asset Management. Richard was awarded the Outstanding Contribution to the Industry Honour at the Morningstar OBSR Awards in 2012 and has a BA in English Language and Literature from Oxford University (1985).
Following the completion of the acquisition of Quilter Cheviot by Old Mutual Plc, David has been appointed to the Boards of Quilter Cheviot Ltd and Quilter Cheviot Holdings Plc.
In May 2015 David was appointed Head of Investment Management at Quilter Cheviot Investment Management and in addition has line management responsibility for the sales and marketing teams. Prior to that David was Head of the Regional offices, the role increased considerably following the opening of a number of new offices and in 2014 David also took over responsibility for the firm’s offshore office in Jersey. David is particularly fortunate to have a great team which makes his role stimulating and David enjoys building on-going client relationships and developing opportunities to grow the business at Quilter Cheviot. David is a member of the firm’s Executive Committee.
David has over 25 years’ investment management experience and is a Chartered Fellow of the Chartered Institute for Securities & Investment, a former board member of the institute and a member of the committee responsible for its performance as an accredited body.
David lives in Warwickshire, a few miles outside Stratford upon Avon with his wife, Catherine and children, Katie and Ollie – life is busy! David enjoys his time with the family and aims to find time to read, swim, garden and follow most of the countryside sports.
Warren joined the business in 2012, as Head of Distribution for Skandia Investment Group before transferring to Old Mutual Global Investors. He has over 17 years of retail and wholesale sales experience, spending 13 years working in the asset management industry. Previously, Warren spent nearly 10 years at UBS Global Asset Management where he was most recently Managing Director and before that in a variety of roles at Fidelity and Prudential.
Old Mutual Global Investors:
Old Mutual Global Investors has grown strongly since its creation in August 2012 and now has assets under management of £22.4 billion¹. The team consists of 230 industry professionals, including a team of 59 investment professionals. As part of Old Mutual Group it has a strong financial parent to support the activation of its business strategy. Old Mutual Global Investors is the asset management division of Old Mutual Wealth. To find out more information please go to: www.omglobalinvestors.com
Quilter Cheviot, part of Old Mutual Wealth, is one of the UK’s largest discretionary investment firms and can trace its heritage to 1771.The firm is based in twelve locations across the UK, Jersey and Ireland and has total funds under management of £17.2bn (€24bn) as at 30 June 2015. Quilter Cheviot focuses primarily on structuring and managing bespoke discretionary portfolios for private clients, charities, trusts, pension funds and intermediaries.