Old Mutual Global Investors, the fund management arm of Old Mutual Wealth, has recruited a three-strong team managing emerging market equities, continuing efforts to build out the firm's business lines as its parent prepares for a public offering.

Nick Payne, Salman Siddiqui and Liz Fernandes, former Nomura Asset Management portfolio managers, joined last week. From July 21, they will take over fund management duties on Old Mutual's $245m Global Emerging Markets fund, which is currently outsourced to well-known US fund managers Fisher Investments.