UK – Old Mutual Asset Managers (OMAM) has appointed Eoin Murray, its current head of quantitative strategies, as chief investment officer.

Murray will take over the role from Peter Baxter, who has been CIO since September 2000, and who remains chief executive officer, having been appointed to this role in April 2005.

Murray, 38, will continue to lead the quantitative strategies team alongside his CIO role.

A spokesperson for OMAM said it was unclear whether a new team chief would be appointed in the future.

Murray, who joined OMAM in 2004, said he was “pleased” with the appointment. “This is an exciting time for the business as we look to build on our success and take advantage of new opportunities,” he said.

According to OMAM, this appointment will see no change to its investment approach.

Commenting on Murray’s hire, Baxter said: “I am delighted that Eoin has agreed to become our CIO. …The time is right for Eoin to take on this role and for me to focus on the CEO role.”

Baxter succeeded John Ainsworth as CEO of OMAM.

In June, OMAM appointed KBC Alternative Investments volatility arbitrage specialists Steve Kelso and Paul Jones to launch a volatility arbitrage hedge fund.

It also appointed HFR Asset Management managing director Laurent Farcy-Briant to be director of continental European sales for multi strategy and structured products.