OMGI reveals name change
Old Mutual Global Investors has been renamed as Merian Global Investors one week after splitting from its former parent Quilter (formerly Old Mutual Wealth).
The business will continue to operate as OMGI until the autumn, with the exact date of the renaming yet to be confirmed, the company said in a statement.
Quilter announced last week that it had completed the £583m sale of OMGI to the single-strategy business’ management team led by Richard Buxton and private equity firm TA Associates.
The firm explained the name was inspired by the remarkable life of the scientist, artist and adventurer Maria Sibylla Merian, who captured many of her scientific findings and observations in a series of exquisitely detailed illustrations.
“The newly independent business believes there are many synergies between the pioneering work and character of Merian and its vision, values and culture. Further, as a polymath, Merian embodied the multi-faceted approach OMGI takes to investment,” OMGI said.
OMGI CEO Richard Buxton said: “We believe Merian’s pioneering achievements, willingness to challenge the status quo and sheer strength of character truly symbolise our ethos and approach to doing business.
“Notably, the Merian name represents our core belief that investors should not be constrained by a ‘house view,’ demonstrating our understanding that investment can be considered both an art and a science.”
Old Mutual Wealth’s multi-asset business will remain part of Quilter, while Merian and Quilter will continue to provide commercial services to each other for a period of up to three years.