Given its increasingly important international role within Old Mutual’s Long Term Savings division and ambition to provide high performing, customer driven investment solutions, SIG has decided to relocate to London from Southampton.
The move – which will be completed by end 2013 – will consolidate its UK business locations and bring SIG closer to many of its clients, including businesses within its parent company, for whom it develops customer focused solutions including risk targeted funds such as Spectrum, protected products such as Shield and a comprehensive range of multi asset and single strategy investment funds.
Around two thirds of SIG’s UK staff – some 57 people – are currently based in Southampton while the rest are in London. It is hoped that most in Southampton will take the opportunity to move to London.
News of the London move follows an internal business review of required and future business capabilities. The review identified some 13 new specialist roles all of which aim to compliment the expertise of the existing team and strengthen SIG’s distribution and investment management capabilities.
More than half the new roles announced today are already being recruited – the rest will be new positions. The review also concluded that some 13 existing roles did not meet SIG’s plans for the future and were no longer required by the business. Individuals impacted will, wherever possible, be offered suitable opportunities within SIG and the wider Group.
Though not directly connected, news of the relocation of SIG follows the recent announcement of the appointment of Paul Feeney to the role of Chief Executive Officer of asset management within the Long Term Savings division of Old Mutual and Phil Wagstaff as CEO of SIG, both of whom will provide new levels of focus on asset management within the LTS division of Old Mutual.
Since its formation at the end of 2007, SIG has been continually developing its capabilities and has significantly enhanced the performance of its fund range so that now over 70% of its funds are ahead of their sector over three years, putting it firmly among the best performing large asset managers in Europe.
Chief Operating Officer Marc Bulstrode says: “We have the ambition to be a leading international investment management business. The refocusing of our organisational structure will enable us to further strengthen our investment management and distribution capabilities, improve speed to market and continue to deliver high performing investment solutions to our customers.”