Irish Life Investment Managers<\/a>, according to a statement on Tuesday. <\/p>\nThe enlarged entity will oversee more than \u00a3135 billion (\u20ac153.4 billion) in assets and continue to cater to institutional and wholesale clients offering products including multi-asset, fundamental equities and systematic quant funds.<\/p>\n
Keyridge ultimately seeks to have a third of its sales in the UK, with the other two thirds equally split between North American and European markets, Keyridge chief executive Patrick Burke said in an interview. The Irish executive is leading a team of 300 staffers and said he plans to hire more senior investment professionals to join the UK team over the coming months. The business will be headquartered in London\u2019s biggest office building at 22 Bishopsgate.<\/p>\n
Great-West Lifeco is backed by Canada\u2019s billionaire Desmarais family, which has been looking to shift into higher-growth areas of financial services while shedding some legacy assets.<\/p>\n
Keyridge faces fierce competition in the UK, the world\u2019s second-largest investment management hub after the US. Still, many traditional stockpickers including Aberdeen and Jupiter Fund Management have suffered consecutive years of outflows amid the rise of cheaper, passively managed funds and a relatively high fixed cost base.<\/p>\n
\u201cThere\u2019s been a lot of turnover in UK asset management,\u201d said Burke. \u201cThere are people who know their stuff and are looking for growth opportunities. Not every business is in a growth mode \u2014 and we\u2019re very much in a growth mode.\u201d –Bloomberg <\/p>\n","protected":false},"excerpt":{"rendered":"Great-West Lifeco is merging its European asset management units to set up a money manager headquartered in the…\n","protected":false},"author":2,"featured_media":276616,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,126464,131,132],"class_list":{"0":"post-276615","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-finance","12":"tag-irish-life-investment-managers","13":"tag-personal-finance","14":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/276615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=276615"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/276615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/276616"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=276615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=276615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=276615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}