Old Mutual Global Investors’ first Scottish office set for Charlotte Sq

Fund manager Old Mutual Global Investors (OMGI) has announced Edinburgh’s Charlotte Square will be the site for its first office in Scotland.

The firm signed a ten-year lease on two floors of 10 Charlotte Square, which forms part of a portfolio of 21 Georgian townhouses designed in 1791 by Robert Adam and now managed by the Charlotte Square Collection.

News of OMGI’s residency comes just a week after the South African financial services group said that funds under management had grown by 7 per cent to £22.4 billion during the first half of the year, while adjusted operating profits surged 88 per cent to £30m.

The asset manager’s move to the capital also comes in the wake of a recruitment drive to establish a team of fixed income specialists, led by Russ Oxley, who the firm poached from Glasgow-based rival Ignis Asset Management.

As head of fixed income absolute return, reporting to OMGI chief executive Julian Ide, Oxley manages a team that includes Huw Davies, Joshua Heming, Adam Purzitsky, Paul Shanta and Jin Wong. A product launch is planned for this coming months.

Speaking ahead of the move to Charlotte Square, Mr Ide said: “This is an important step for our business, one that demonstrates our commitment to our Scottish client base. Being based in Charlotte Square is also important as it ensures that we are at the heart of the Edinburgh financial services industry.”

OMGI joins a growing list of financial services tenants within the square, which is also home to Bute House, the official residence of the First Minister.

Earlier this year, Swiss asset manager Syz & Co and Swedish lender Handelsbanken took up space within the renovated townhouses.

Newly-formed private bank Hampden & Co and investment managers Amati, Cornelian and Ruffer are also based on the square.

Nick Ball of Corran Properties, which manages the properties for the Charlotte Square Collection, said: “We are creating an enviable hub of high-end, high-quality financial services companies. Number 10 is a magnificent townhouse, in an iconic square that is known and recognised internationally as a prestigious address.”