Wagstaff set to take CEO role at Skandia Investment Group

The former global head of distribution at Gartmore, Phil Wagstaff, is set to join Skandia Investment Group (SIG) as CEO, Investment Week, IFAonline's sister title, understands.

At Gartmore, Wagstaff was responsible for the distribution of retail, institutional and alternative products in the UK, Europe, Japan and the US, as well as marketing, client service and product development.

He joined the firm in 2007 from New Star Asset Management where he was managing director of UK sales and marketing.

He had previously been managing director of UK retail at M&G.

In December last year, SIG chief executive Nils Bolmstrand stepped down after 12 months in the role, moving to Stockholm to work for Skandia's Nordic business as head of product.

Chief operating officer Mark Bulstrode took over as acting CEO until the group appointed a permanent replacement.

Bolmstrand was formerly chief executive of Skandia Fonder AB, and stepped in to oversee SIG after Jamie MacLeod left the group in September 2009 to become CEO of Berry Asset Management.

MacLeod had been instrumental in setting up Skandia Investment Management and growing assets within the business.       

Last week Richard Pursglove, Wagstaff's former colleague at Gartmore, joined GSAM  to lead a nine-strong sales and marketing team.

Wagstaff and Pursglove were not among the staff members who moved across to Henderson following its takeover of Gartmore in April this year.