Paul Feeney appointed CE of Skandia Investment Group

Paul - who starts his new role in January - will also be chief executive of all of Old Mutual's asset management businesses within Long Term Savings. The coordination of the asset management businesses across LTS is a key component of Old Mutual's strategy of delivering the best products, solutions and services to its customers.

Paul's new appointment to SIG follows Phil Wagstaff's decision to take the role of global head of distribution at Henderson Global Investors following his appointment to the role of SIG CEO just two weeks ago. 

Paul Hanratty, chief executive of Old Mutual's LTS business, said, "SIG is in good shape. Over the past three years it has delivered a fund range with industry leading performance - enough to put it among the leading asset managers in Europe. It is also more than holding its own in terms of sales against a very challenging economic backdrop. 

 "We have very ambitious plans for the business and its future development within LTS asset management; so while we're sorry to see Phil go, with Paul at the helm and a motivated and focused executive team at SIG, I'm very optimistic for the future.”