In its most significant move since Richard Buxton arrived from Schroders 15 months ago, Old Mutual Global Investors has hired Asian equity star manager Joshua Crabb from US-listed BlackRock and confirmed its plans to grow in the region.

Julian Ide, OMGI chief executive, confirmed that Crabb will lead the development of its Asian equities product range, just as Buxton led the growth of its UK investment team following his arrival in March 2013. At that point, Buxton's team managed £2.1 billion. It now looks after £4.6 billion.