Speaking to Portfolio Adviser, the CEO (pictured) of the soon to be rebranded OMGI, said he was unable to reveal the new name of the firm but said “without a shadow of a doubt” it will not be named after himself.
“I do not have that sort of ego,” he said. “There was no way it was ever, ever even contemplated.”
But, he added: “We have a preferred name, we are working on trademarks, but we can’t say anything yet.”
In December, Buxton led a £600m buyout of OMGI’s single-strategy business, backed TA Associates, a global growth private equity firm. The asset manager will run equities, fixed income and alternatives products, including Buxton’s own £2.2bn Old Mutual UK Alpha fund.
OMGI’s multi-asset business is being absorbed by Old Mutual Wealth, which is rebranding as Quilter. The multi-asset business will be known as Quilter Investors.
Buxton’s new firm is due to launch in summer 2018. “I have a date in mind, but I’m not allowed to tell,” he said.
OMGI took in £10.9bn in inflows last year, up 110%, and saw assets under management rise by 12% to £138.5bn.
Its profits were up 153% to £152m for 2017.
Neil Woodford, Nick Train and Terry Smith have all set up their own eponymous firms after splitting from the major fund groups where they launched their careers.
