--Company expands distribution coverage in growing market through accomplished sales and marketing professional--
BOSTON, Jan. 23, 2014 /PRNewswire/ -- Old Mutual Asset Management (OMAM), the U.S.-based global asset management business of Old Mutual plc, announced today that Richard Souri has been named Senior Vice President and Head of Middle East Sales, and will lead the firm's marketing efforts in the Middle East.
As Head of Middle East Sales, Mr. Souri will focus on introducing the diverse investment capabilities of OMAM's eight Affiliate firms to institutional investors in the region, including sovereign wealth funds, local pension funds and family offices. His primary area of responsibility will be in Gulf Cooperation Council (GCC) countries, which include Bahrain, Kuwait, Oman, Saudi Arabia, United Arab Emirates and Qatar.
"Richard is a highly talented, experienced professional who brings a range of capabilities and relationships to our global distribution team and further enhances our ability to identify and serve areas of potential investor demand on behalf of OMAM's Affiliates," said Linda Gibson, OMAM's Executive Vice President and Head of Global Distribution.
"Richard is an excellent addition to our team as we continue to expand our marketing and client service capacity in key strategic markets," said Olivier Lebleu, Head of International Business Development for Old Mutual Asset Management International. "The quality and diversity of our Affiliates' investment strategies continue to attract investor interest across the globe, and we are confident that Richard will leverage his substantial industry experience and strong relationships to grow awareness and generate new client investments."
OMAM's Affiliates specialize in a wide range of investment strategies including: U.S. growth and value equities across the market capitalization spectrum; global sovereign and credit strategies; global, international and emerging markets equities; and a number of alternative investments including private and listed real estate as well as timber investments. These strategies are offered through eight leading boutique asset managers: Acadian Asset Management; Barrow, Hanley, Mewhinney and Strauss; The Campbell Group; Copper Rock Capital Partners; Heitman; Investment Counselors of Maryland; Rogge Global Partners; and Thompson, Siegel & Walmsley.
Mr. Souri joins the Old Mutual Asset Management International distribution team from MSCI Barra, where he spent over 10 years in both sales and analytical roles in the U.S., London and Dubai. He helped open MSCI Barra's Middle East office in Dubai in 2007 and has developed their SWF and institutional clientele across the region over the last several years. Mr. Souri has a degree in Physics from Queen Mary College, University of London. Fluent in Arabic, Mr. Souri is based in Old Mutual Asset Management International's London office.
About Old Mutual Asset Management
OMAM is a global multi-boutique investment organization, managing and growing a diverse portfolio of asset managers that serve institutional investors around the world. The assets under management of OMAM's affiliated investment firms were $243.3 billion as of September 30, 2013. OMAM is the name through which Old Mutual (US) Holdings Inc. conducts its U.S. asset management business. Its parent company is London-based Old Mutual plc. More information about OMAM, its member firms, and their investment teams and strategies, is available at www.oldmutualus.com.
About Old Mutual Asset Management International
Old Mutual Asset Management International (OMAM International) provides sales and marketing support for Old Mutual Asset Management outside the United States. OMAM International is authorized and regulated by the Financial Conduct Authority of the United Kingdom and works with affiliates to provide investor introductions and to raise capital from institutional investors. OMAM International professionals help coordinate access to Old Mutual's institutional asset management capabilities for pension funds, insurance companies, sovereign wealth funds, investment consultants and global financial institutions. More information about OMAM International is available at www.oldmutualus.com.
About Old Mutual plc
Old Mutual provides life assurance, asset management, banking and general insurance to more than 14 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2012, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £262 billion of funds under management from core operations.
For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com.
SOURCE Old Mutual Asset Management