In the case of Ventre, showing him the door, or at least not trying hard enough to keep him in the face of a rival offer, looks a strange move.
Another thing that makes it odd to see Ventre allowed to leave is that in signing up Buxton from Schroders, Old Mutual has shown an appreciation of the value in having strong name recognition in its fund manager roster.
While Ventre is not of the same profile level as Buxton himself he is well known and highly regarded. Another more recent example is OMGI’s hire of Standard Life Investments’ Russ Oxley.
As ever, a great or troubling thing about the investment industry, depending on your agenda and point of view, is that the numbers don’t lie and there is nowhere to hide.
It will become very clear if Old Mutual Wealth has taken a step forward or back with these changes in the fullness of time.
