Great-West Lifeco, an international holding company known for its Canada Life and Irish Life brands, has introduced Keyridge Asset Management as the consolidated brand for its European asset management activities.
This development brings together the European asset management businesses of Canada Life Asset Management, Setanta Asset Managers, and Irish Life Investment Managers (ILIM) under one umbrella.
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The combined operation oversees more than £135bn in assets.
Great-West Lifeco stated that this integration will serve as a base for expanding its presence in the UK asset management sector by acting as a central hub for its European investment activities and supporting third-party distribution.
Great-West Lifeco Europe CEO Lindsey Rix-Broom said: “By bringing together the strengths of ILIM, Setanta, and Canada Life Asset Management, we are creating a business with the scale, expertise and agility needed to thrive in the UK’s dynamic market.
“Combining these businesses allows us to harness the best of our talent, technology and investment capabilities, ensuring we are well positioned to realise our vision for Keyridge and for our clients.”
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By GlobalDataKeyridge Asset Management will operate alongside existing brands, with ILIM and Setanta continuing their business in Ireland.
In the UK, Canada Life Asset Management will still manage general account assets for Lifeco’s companies and maintain partnerships to deliver fixed interest fund management solutions both within the UK and globally.
The newly unified team consists of around 300 employees and is headed by CEO Patrick Burke.
Great-West Lifeco has indicated that it will continue to invest in its asset management operations recruitment to support these plans.
Burke commented: “Keyridge will provide UK wealth advisers and customers with the focus and expertise of our specialist investment management teams, combined with the scale, support and efficiency that goes with being part of a CAD$3 trillion global financial services group.
“Our ability to connect the full breadth of our investment expertise with a highly adaptable platform and partnership-driven culture means we can deliver solutions that truly align with our clients’ priorities.”
According to the company, this new structure builds on its existing capabilities in multi-asset strategies, equity investment, quantitative approaches, and customised indexation.
