Old Mutual Asset Investors Taps Towers' Stevenson for Institutional Push

Jul 17 2015 | 11:56am ET

Old Mutual Global Investors (OMGI) has hired former Towers Watson hedge fund researcher Craig Stevenson as global head of investment consultants.

Stevenson began his new role, which is a new position, on July 15, according to the company. OMGI noted that the appointment furthers its goal of broadening and diversifying its institutional client base. 

Stevenson was with Towers for eights years as a senior investment consultant. He was head of equity long/short and hedge fund of fund research. He has been vocal about the disconnect between hedge fund performance and manager fees. 

“By continuing to offer top performing investment products, as well as investing in our UK distribution capability, we have built a very successful UK retail business,” noted Julian Ide, CEO of OMGI, in a statement. “The next step is to broaden our reach in the institutional sector, where we are already receiving increased interest for our investment strategies.”

OMGI’s alternatives business has grown rapidly, rising from $860 million at the end of 2012 to $4.79 billion at the end of June 2015. Much of the growth has come from new institutional clients, the company noted.

London-based OMGI is a leading asset management firm with more than £22 billion in assets under management.

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