Old Mutual Asset Management CEO Peter Bain steps down
Staff Writer |
London, United Kingdom - OM Asset Management (OMAM), an associate of Old Mutual plc, announced that Peter Bain is stepping down from his roles as president, chief executive officer and director, positions he has held since 2011.
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Peter Bain has more than two decades of experience leading and advising firms in the investment management industry.
Mr. Bain was previously a Senior Executive Vice President at Legg Mason, Inc., where he held leadership positions from 2000 to 2009.
Most recently Mr. Bain served as Head of Affiliate Management and Corporate Strategy there, with responsibility for overseeing the firm's investment managers.
Prior to that, he was Chief Administrative Officer, responsible for the firm's overall administration and operations.
James J. Ritchie, chairman of the OMAM Board of Directors, will serve as executive chairman and interim CEO.
Mr. Ritchie has been the Chairman of our Board since 2015 and a member of our Board since 2014.
He also has served as a member of the board and Chairman of the Audit Committee of Kinsale Capital Group, Ltd. since January 2013 and as a member of the board and Chairman of the Audit Committee of Old Mutual plc (Bermuda) Ltd. since February 2009.
Mr. Ritchie’s former board experience includes: member of the board and Chairman of the Audit Committee of Ceres Group; member and Non-Executive Chairman of the Board and member of the compensation committee of Fidelity & Guaranty Life Insurance Company (formerly Old Mutual Financial Life Insurance Company); and member of the board and member of the audit and compensation committees of KMG America Corporation.
Mr. Ritchie was a member of the board, Chairman of the Audit Committee and member of the compensation committee of Lloyd’s Syndicate 4000; and member and Non-Executive Chairman of the Board and former Chairman of the Audit Committee of Quanta Capital Holdings Ltd.
From 2001 until his retirement in 2003, he served as Managing Director and Chief Financial Officer of White Mountains Insurance Group, Ltd.’s OneBeacon Insurance Company, a specialty insurance company, and as the Group Chief Financial Officer for White Mountains Insurance Group, Ltd., a financial services holding company.
From 1986 through 2000, Mr. Ritchie held various positions with CIGNA Corporation, an insurance company, including Chief Financial Officer of the company’s international division and Head of its Internal Audit Division.
Mr. Ritchie began his career with PricewaterhouseCoopers LLP, an accounting firm.
He is a member of the National Association of Corporate Directors and the American Institute of Certified Public Accountants. ■