Former St James’s Place chair Sarah Bates has joined Richard Buxton’s new spin-off from Old Mutual Global Investors.
Sarah Bates (pictured) will join Merian Global Investors as a non-executive director and chairman after retiring from SJP earlier this year. With 38 years of experience in the industry, she had been chairman of the FTSE 100 wealth manager since 2014.
She is joined by former L&G chief financial officer Mark Gregory, who has been named a non-exec and will chair Merian’s audit and risk committee.
Gregory previously spent nearly 20 years working at Legal & General, including four years as group chief financial officer. He is also currently an independent non-executive director at Direct Line Insurance Group. There are currently eight people on the Merian board and the firm is still looking to hire one more independent director.
“Merian Global Investors is in the early stages of life as an independent asset management business and I’m thrilled that Sarah Bates and Mark Gregory are joining our board at this pivotal time.
“I’m a great believer in the power of independent directors to drive positive change and I have every confidence that Sarah and Mark’s considerable experience will be a significant asset to our business as we grow,” Richard Buxton, chief executive of Merian, said in a statement.
Bates added: “I have watched the development of Merian Global Investors with great interest and I am incredibly excited to join the organisation as chair at this crucial stage in its journey.
“The management team’s commitment to building a differentiated asset management business is unwavering and I look forward to working with them as we grow a market-leading organisation.”
Merian took on its new name on 1 October after Buxton and other members of the management team, together with funds managed by private equity firm TA Associates, acquired OMGI’s ‘single-strategy’ asset management business.
This article first appeared in International Investment.