Old Mutual Global Investors (OMGI) has created a new multi-asset division which will include personnel from Quilter Cheviot, which was acquired by OMGI parent company Old Mutual Wealth in October 2014.

The 24-member team will be led by Quilter Cheviot’s Ben Mountain and Old Mutual Wealth’s Anthony Gillham.

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The division will comprise portfolio management, fund research, asset allocation and the managed portfolio service.

As part of the change, John Ventre, Stewart Cazier and Francois Zagame will leave the firm.

Old Mutual Wealth chief investment director Martin Baines said: "Since QC joined Old Mutual Wealth earlier this year we have been identifying areas of complementary activity and how we can best harness the expertise of two superb investment businesses managing clients’ money. These significant developments present the opportunity to more effectively leverage the combined investment knowledge of QC and OMGI for the benefit of all our clients in the multi-asset area.

"By bringing together these talents in one capability within the Old Mutual Wealth Investment Division, we will be better positioned to deliver a leading range of solutions specifically designed for different client and adviser needs in different markets in the UK and internationally.

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"In Ben and Anthony we have two very experienced investment leaders. I truly believe that with their leadership, this new unit will be able to deliver the investment returns that our clients expect from such a talented team."

Gillham will also manage the Spectrum Funds range as well as the Voyager Funds range with Sacha Chorley, the company said.