Feeney, who joined the investment management group in January 2012, is currently the chief executive of its long-term savings asset management business. He will take up his new role on 1 August 2012.
Before joining Old Mutual, he was BNY Mellon Asset Management executive director and head of distribution.
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He has also worked as Gartmore managing director, NatWest Investments managing director in the UK and US and Coutts Group global marketing director.
Commenting on Feeney’s appointment Old Mutual long-term savings division chief executive Paul Hanratty said: "Paul has made a significant impact since he joined Old Mutual at the beginning of this year and we are confident that he is the right man to drive the growth and development of our Wealth Management operation. Wealth Management has great potential and will play a key part in the Group’s future growth."
It was also confirmed that Julian Ide will continue to run the combined Skandia Investment Group and OMAM UK business, reporting to Feeney.
Diane Radley, the CEO of Old Mutual Investment Group South Africa, will now report to Hanratty.
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By GlobalDataOld Mutual’s Wealth Management business comprises: Skandia UK; Skandia International; the European businesses; and the newly combined Skandia Investment Group/Old Mutual Asset Managers (UK). The business had GBP63 billion of funds under management as at 31 March 2012 and gross inflows of GBP12.2 billion and net client cash flows of more than GBP2 billion during 2011.
