Old Mutual Global Investors appoints two independent non-executive directors
Old Mutual Global Investors (‘OMGI’), part of Old Mutual Wealth, announces the appointments of Richard Wohanka and Jon Little as independent non-executive directors of the Old Mutual Global Investors (UK) Limited Board (‘the Board’).
Their appointments became effective on 5 June 2017. Richard Wohanka will chair the Board going forward.
Jon Little also became an independent non-executive director of the Old Mutual Wealth Board in May 2017.
Richard and Jon will provide independent guidance to OMGI’s senior executive team as the business continues to build on the momentum which has seen assets under management grow from £13.5 billion in December 2012 to £34.6 billion¹. As the business’s strategic plans for growth continue to be executed, a decision has been made to strengthen the Board.
Richard Buxton, CEO, OMGI, comments:
“The appointment of Richard and Jon to the OMGI Board is a fantastic development and comes at an exciting time in our growth journey. Both bring valuable experience of working in the asset management industry to our business. They have complementary skill sets and will add a new dimension to the current Board structure.
“OMGI prides itself on being a champion of good corporate governance and the appointment of an independent chairman and independent director provides autonomous scrutiny and guidance, further embedding these principles within the business. Our drive for a strong governance structure, with independent oversight, will enhance our commitment to good investor outcomes. Both Richard and Jon’s expertise, insight and counsel will be invaluable as our business continues to evolve and grow.”
Richard Wohanka has significant experience in the investment and asset management industry. He started his investment career in 1975 and his first asset management role was in 1990 at Banque Paribas. He left that business as CEO and a Board member to join Baring Asset Management as CEO, institutional and mutual fund division in 1996. Following a short period as an independent consultant, he was appointed as CEO of West LB Asset Management 1998. In 2001, Richard moved to Belgium to take up the role of CEO of Fortis Investments. After eight years at Fortis, Richard moved to Switzerland where he worked until 2012 as CEO and Board member for Union Bancaire Privee. Following this role, Richard moved back to the UK and took on his first non-executive director position as chairman of the investment committee and Board member of the Nuclear Liabilities Fund. Since then, Richard has built up a portfolio of non-executive director roles at companies which included Union Bancaire Privee, Nuclear Liabilities fund, BTG Group, Embark Group, Scottish Widows, The James Neill Pension Plan and Julius Baer International.
Jon Little brings a wealth of global asset management industry experience to the business. He is currently a Partner at Northill Capital, a company he founded in November 2010. Northill Capital provides equity and seed capital to a small number of high-quality start-ups or early stage asset managers and provides equity capital to replace existing shareholders in larger more established asset management businesses. Assets under management by firms in which Northill owns a majority interest total approximately $42 billion.
Prior to this, Jon was Vice Chairman, BNY Mellon Asset Management and Member of The Bank of New York Mellon’s Global Executive Committee. He joined Mellon (later BNY Mellon) in 2000 and was latterly Head of BNY Mellon’s International Asset Management Business, responsible for all non-US asset management businesses. During his time with BNY Mellon, Jon was also Chairman of The Dreyfus Corporation in New York between January 2007 and December 2008 and Chairman of Insight Investment Management from its acquisition in 2009. He was also involved in various asset management boards, including Newton, Walter Scott, Pareto and Alcentra. Prior to BNY Mellon, Jon was Vice President, Head of International Funds & European Sub-advisory at JP Morgan Investment Management and previously a Business Development Director at Fidelity. He was also a Non-Executive Director of Jupiter Fund Management plc from September 2011 to October 2016.