Skandia’s director of investments James Millard is set leave the firm by the end of this year.
The move is part of Skandia’s decision to run the management of its Select model portfolio proposition under Old Mutual Global Investors (OMGI).
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Millard was appointed as head of the firm’s investment solutions team in December 2012 to oversee the development and launch of Select range.
The launch has been delayed due to Skandia’s decision to add a range of model portfolios to the proposition, which Millard was set to oversee alongside external funds on the Skandia platform.
However, Skandia has now selected OMGI’s fund manager John Ventre and his multi-asset team to oversee the Select funds and manage the model portfolio service.
Originally branded as Select, the proposition will now be known as WealthSelect and is due to launch in the first quarter of 2014.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAccording to a Skandia spokesman, "As we prepare for the launch of our new WealthSelect proposition next year we have taken the decision to run the managed portfolio service that will be part of that proposition within Old Mutual Global Investors. As a result James Millard has decided to leave the business.
"John Ventre’s Multi-Asset team already manages over £5 billion on behalf of our customers in multi-asset and multi-manager funds such as the Spectrum range. The model portfolio service element of WealthSelect naturally sits with their experience in asset allocation and fund manager selection."
