LONDON, Sept.4, 2001 (PRIMEZONE) -- Jim Sutcliffe, Old Mutual's Chief Executive (designate), today announced that Edmond Warner has been promoted to Chief Executive of Old Mutual Financial Services ("OMFS"), with responsibility for all the Group's U.K. businesses. Edmond was previously Chief Executive of the Group's institutional stockbroking subsidiary, Old Mutual Securities.
In addition to Old Mutual Securities, OMFS comprises a number of other major U.K. businesses, including Gerrard -- the U.K.'s leading private client stockbroker -- GNI and OMAM (U.K.). The U.K. businesses employ a combined total of 2,500 staff, with funds under management of $20 billion pounds.
Edmond Warner, 38, joined Old Mutual Securities in August 1999 from BT Alex. Brown, where he was Managing Director and Head of Pan-European Equities. His career has been spent entirely in the City, starting as a fund manager before moving into research, including the position of Head of Global Research at Dresdner Kleinwort Benson. As an investment strategist, he has achieved top rankings in the major surveys of fund managers.
Under Warner's leadership, Old Mutual Securities has grown into one of the U.K.'s major institutional stockbrokers and corporate finance advisors specializing in small and mid-cap companies. The firm currently advises more than 100 quoted companies.
Jim Sutcliffe, Chief Executive (designate) of Old Mutual, said: "Ed's considerable experience in stockbroking has helped integrate and develop Old Mutual Securities over the past two years and I am delighted that he will now be taking on a much wider role. I look forward to working closely with Ed to build on the Group's strong position in the U.K."