Sep 4, 2017

Star fund manager Buxton in bid to buy out Old Mutual unit

Richard Buxton, one of the UK's leading fund managers, is planning to buy out the £25bn asset management unit of Old Mutual Wealth, with the aim of creating an investment boutique. Mr Buxton, who is chief executive of UK-based Old Mutual Global Investors, is in talks with private equity backers about taking over the third-party fund management business to create an independent investment firm, according to people close to the plans. Mr Buxton's plan comes as parent company Old Mutual, the Anglo-South African financial services group, prepares to split its business into four by the end of 2018, under a strategy fronted by chief executive Bruce Hemphill. The separation is aimed at enhancing the value of each of the four business units, comprising Old Mutual Wealth, Old Mutual Emerging Markets, Nedbank in South Africa and its US operation, OM Asset Management, in which it is selling down its stake. Mr Buxton made his name as a top-performing fund manager after running his Alpha Plus fund at Schroders for more than a decade.

Read the full story

 Related companies

Make a complaint about Buxton by viewing their customer service contacts.