At the end of October, separate announcements were made that Wagstaff was to join Skandia Investment Group (SIG) as CEO, while Feeney was to take a similar role within the asset management business at Old Mutual Long Term Savings, SIG’s parent company.
Feeney, who starts in January, will now take on both roles and bring together the businesses under Old Mutual LTS that include SIG, Old Mutual Investment Group South Africa and Nordic Asset Management. He reports to Paul Hanratty, chief executive of Old Mutual LTS.
Wagstaff will join Henderson as global head of distribution, reporting directly to chief executive Andrew Formica.
This means Henderson now has three global heads of distribution, with Mark Skinner running the retail side of the business and Arno Kitts the institutional side. They both report to David Jacob, chief investment officer and managing director of Henderson’s investment management business that includes equity and fixed income.
Wagstaff’s is a newly-created role that will see him lead the international distribution teams across retail, institutional and hedge funds, with responsibility for co-ordinating sales channels globally as well as ensuring product strategy is aligned with the group strategy.
He will be able to draw on his experience and knowledge from previous senior distribution roles with New Star and Gartmore, both of which Henderson acquired and integrated into its own structure.
Wagstaff was working at New Star when it was taken over by Henderson, but at the time there was no natural role for him to take on.