Old Mutual Global Investors (OMGI) is set to operate under the Merian Global Investors brand from the end of this year. The exact date of the rebranding has not been disclosed.

The new name has been inspired by Maria Sibylla Merian, a scientist, artist and adventurer.

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The move follows the takeover of the business by the unit’s management team, led by CEO Richard Buxton, and private equity firm TA Associates for £583m. The sale was first announced in December 2017.

“The newly independent business believes there are many synergies between the pioneering work and character of Merian and its vision, values and culture.  Further, as a polymath, Merian embodied the multi-faceted approach OMGI takes to investment,” OMGI said in a statement.

Old Mutual Wealth first announced plans to split its fund management business in September last year. The decision, which forms part of parent Old Mutual’s managed separation strategy, separated the multi-asset business and made OMGI solely responsible for the single strategy range.

“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,” Buxton stated.

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At the same time, OMGI also announced a new pay structure. The new system will align permanent staff to the firm’s long-term equity value and make leadership team members directly invested in the firm.

OMGI further announced that it has majority of voting rights controlled by the investors who led the buyout along with the wider leadership team. The investors are Richard Buxton, Ian Heslop, Amadeo Alentorn, Mike Servent, Dan Nickols and Richard Watts. The rest of the rights will be held by TA Associates.