US - Old Mutual Asset Management (OMAM) US has named Steve Belgrad as chief financial officer and Aidan Riordan as director of affiliate development as part of a series of managerial changes.
Belgrad will join on 1 June and is currently CFO at HarbourVest Global Private Equity. Riordan will join 1 July from Calvert Street Capital Partners.
The firm also said it is searching for a head of global distribution to be based outside of the US.
OMAM is the US-based asset management arm of UK insurer Old Mutual and operates as a multi-boutique firm. The hires are part of a strategic plan outlined by chief executive Peter Bain when he joined in February.
Bain targeted improved affiliate management by developing investment talent and institutional products, the promotion of the underlying boutiques internationally, and to develop "creative and disciplined finance and corporate governance" including the seeding of new investment ideas.
To this end, Bain will have three principals reporting directly to him overseeing these three goals: Linda Gibson, chief operating officer and will lead the affiliate management unit; Belgrad will lead finance and corporate governance development; and global distribution will be overseen by the new hire.
"The addition to our organization of accomplished, talented professionals like Steve and Aidan, combined with Linda's exceptional leadership in working with our affiliate firms, and our hiring of a global leader for our distribution efforts, reaffirms our commitment to innovation within the multi-boutique model," said Bain. "These new additions will give OMAM US the strong team we need to execute on our growth strategy and serve the needs of our affiliates and global investors."
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