Old Mutual Global Investors has confirmed plans to rebrand and become Merian Global Investors from autumn this year.
The new name was inspired by the life of scientist, artist and adventurer, Maria Sibylla Merian, who is considered to be one of the first scientists to challenge widely-believed myths and detailed her findings through illustrations, Old Mutual said in a statement.
“We believe Merian’s pioneering achievements, willingness to challenge the status quo and sheer strength of character truly symbolise our ethos and approach to doing business,” said Richard Buxton, CEO and Old Mutual Global Investors.
“Notably, the Merian name represents our core belief that investors should not be constrained by a ‘house view,’ demonstrating our understanding that investment can be considered both an art and a science.”
Old Mutual’s rebrand follows news late last year that it had agreed to sell its single strategy asset management business to private equity firm TA Associates for £600 million. The sale stems from the wealth manager’s decision to create a multi-asset investment business.
The company added that it now has the majority voting rights, controlled by six investors who led the buyout alongside the wider leadership team, with the remainder controlled by TA Associates.
“We are dedicated to the continued development of an investment-led, specialised asset management business that offers differentiated investment strategies,” Buxton added.
“We understand the value our clients ascribe to ‘true’ active management; investing their money and faith in the understanding that we aim to manage funds that perform in line with their expectations. I therefore believe it is important that our investment teams have equity in the business, to further align their interests with those of our clients.”