Old Mutual Global Investors (OMGI), the asset management unit of Old Mutual Wealth, is in the process of launching its brand in Asia with a vision of capturing a slice of the highly-competitive offshore funds business in the region.
The firm, based in London, is in the process of launching its new brand in Hong Kong and Singapore following an introduction in Taiwan last week.
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A merger between the Skandia Investment Group and Old Mutual Asset Managers UK, OMGI manages US$25 billion in assets under management (AUM), of which 8%-10% is in Asia.
Chief executive of OMGI, Julian Ide, said: "The idea from the beginning was to build a separately branded business within (Old Mutual)Wealth that will service the needs of wholesale clients in key markets around the world."
Currently, OMGI has a team of 166 industry professionals, including 39 investment professionals based in London but it will be setting up an investment team based in Asia soon, according to Ide.
