Keyridge Asset Management, a business created from the merger of three asset management companies, wants to expand the business in the advice and wealth management space.
Keyridge was formed by the merger of three companies – Canada Life Asset Management, Setanta Asset Management and Irish Life Investment Managers – with the aim of creating a “new force in the UK market”.
All three businesses are owned by Great West LifeCo, a Canadian business.
Setanta Asset Management and Irish Life Investment Management are Dublin based while the Canada Life Asset Management business will continue to be based in London.
The company said it views the UK as a strategically important market.
We have a small but perfectly formed team working with UK financial advisers
Chief executive of Keyridge, Patrick Burke, said: “Launching Keyridge in the UK reflects both our confidence in this market and our commitment to serving clients in one of the world’s most influential financial centres.”
He added: “Keyridge will provide UK wealth advisers and customers with the focus and expertise of our specialist investment management teams, combined with the scale, support and efficiency that goes with being part of a $3tn global financial services group.
“Our ability to connect the full breadth of our investment expertise with a highly adaptable platform and partnership-driven culture means we can deliver solutions that truly align with our clients’ priorities.”
Rob Williams, former chief distribution officer at Royal London Asset Management, has joined Keyridge as chief commercial officer.
Williams told FT Adviser: “We have a small but perfectly formed team working with UK financial advisers and are looking to grow our presence in the wealth management market.
“We will add people to that team. We don’t have a large presence in the institutional market in the UK and would like to add resource there.”
Williams said that, at present, “there are no plans” to add to the fund management teams at the company.
He also said all three businesses have been moved to the same back office operating system.
Of his decision to leave Royal London, where he had worked for more than a decade, Williams said: “The company is associated with a partnership based approach to client relationship and for me it was an exciting opportunity to launch a new brand, it is not often a role like that comes along.”
david.thorpe@ft.com
