Richard Buxton, head of UK equities at Schroders, will join rival Old Mutual Global Investors, as head of UK equities.
Buxton already manages the Old Mutual Equity 3 Fund on a sub-advisory basis. This Ucits fund is identical to the Schroders UK Alpha Plus Fund.
The £160 million (€185.7 million) Old Mutual Equity 3 Fund will be renamed into Old Mutual UK Alpha Fund, subject to regulatory approval.
Buxton will be responsible for managing the UK equities team; Ashton Bradbury, who has managed the teams over three years, will report to Buxton and focus on managing the UK Specialist Equity Fund.
Errol Francis, co-manager of the Schroder UK Equity fund, will join Old Mutual in June.
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