Merian Global Investors, the asset manager spun out from Old Mutual, has appointed Mark Gregory as its new CEO.

Gregory will succeed Richard Buxton, subject to regulatory approval.

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Buxton led the management buyout of Old Mutual Global Investors that was later rebranded as Merian Global Investors.

Buxton will also resign from Merian’s executive committee but will remain on its board.

Besides, he will continue to serve as the firm’s head of UK equities and manager of the Merian UK Alpha Fund.

“With the management buyout and rebranding complete, I believe this is the appropriate time for me to hand over the CEO role. I am completely committed to the business and I will continue to be involved in its development, in my role on the board. Having known Mark for many years, I am absolutely convinced that he is the right person to take the business forward,” Buxton said.

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Gregory currently serves as a non-executive director of Merian, a role he has held since October last year.

He previously worked as the CFO at Legal & General, where he spent 19 years. He also had a stint at PricewaterhouseCoopers.

Merian chair of the board Sarah Bates said: “I’m delighted that Mark Gregory has accepted the position of CEO.

“He is hugely experienced and enthusiastic about the future of the business and I have every confidence that Merian Global Investors will continue to excel under his guidance.”