UK – Jamie Macleod, chief executive of Skandia Investment Management (SIML), is to head Skandia UK’s new asset management division – a consolidation of its investment, fund group and life arms.

The new division will allow for centralised oversight of Skandia’s fund group, according to a statement.

The move will see fund group relationship manager Richard Vincent and Skandia Life CEO Tom Berger report to Macleod, whose wider remit facilitates a fully coordinated approach to sourcing investment solutions for all of Skandia’s UK businesses.

Meanwhile, Macleod will report directly to Skandia UK CEO Nick Poyntz-Wright. He will also remain chief executive of SIML.

Macleod told IPE that the new structure creates an asset management division that is roughly £25bn (€36bn) in size.

“So its not insignificant. And that’s across a wide range of funds - multi-manager funds, self-select funds, single strategy funds, mixtures of bonds and equities,” he said.

Macleod has been part of Skandia UK’s executive team for four years. He has also been involved in its fund strategy committee, which has overseen the development of Skandia’s investment strategy and relationships with fund group partners.

The establishment of this new asset management division follows an earlier announcement about the departure of group investment director Jim Roberts.

Roberts, who was with Skandia for some 26 years, is reportedly the first senior departure from the group since its £4bn takeover by old Mutual.

He is due to leave at the end of July.

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