Kevin Carter, current chief executive of Old Mutual Asset Managers in the UK, is to take on a lead role in the running the asset management operations to be acquired as part of the United Asset Management transaction.

The move follows Old Mutual's $1.46bn bid for the UAM business in July this year. The deal will triple Old Mutual's global assets under management to approximately $275bn (€309.7bn), and put it among the top 30 fund managers in the world.