UK - London based institutional fund manager Zurich Scudder Investments has undergone a name change and will now be known as Threadneedle Asset Management.
The move follows parent company Zurich Financial Services’ recent deal with Deutsche Bank. Zurich’s UK retail (Threadneedle Investments) and institutional investment (Zurich Scudder Investment) businesses were excluded from this transfer which was finalised in December. All UK asset management companies which remain within Zurich Financial Services will also return to the Threadneedle name using ‘Threadneedle Investments’ as the umbrella brand.
Simon Davies, Threadneedle’s chief executive, said: “Although we have been through several changes of name in recent years, our management team has been exceptionally stable.
“On the back of consistently good performance, our businesses in the UK and Europe have continued to expand very successfully in both the retail and institutional markets. Last year total gross inflows from both institutional and retail sources exceeded £3bn.”
Threadneedle Asset Management was founded in 1994 and as of December 2001 managed more than £47bn for a range of clients including pension funds, insurance companies, private investors, mutual funds and affiliate group companies.
By Madhu Kalia
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