LONDON, Oct. 18, 2001 (PRIMEZONE) -- Old Mutual has today announced that, subject to regulatory approval, it will be combining the asset management activities and operations of Old Mutual Asset Managers and Gerrard Investment Funds, under the management of John Ainsworth, Chief Executive of Old Mutual Asset Managers.
Ridgefield Unit Trust Administration, which provides services for Gerrard Investment Funds and other third-party asset managers, will also be under the management of John Ainsworth of Old Mutual Asset Managers.
Commenting on the announcement Edmond Warner, Chief Executive of Old Mutual Financial Services, said, "This is an important step, bringing a co-ordinated approach to our U.K. business and establishing Old Mutual Asset Managers as the Group's U.K. asset management platform. Gerrard's aim is to be the U.K.'s premier portfolio management business, focused on private clients. We believe that this is the right move for Old Mutual, for Gerrard and for all our clients, combining the key strengths of Old Mutual Asset Managers and Gerrard Investment Funds."
For more information, please go to: http://reports.huginonline.com/837012/95437.doc