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Old Mutual Hires Two Top Execs

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NU Online News Service, April 5, 10:35 a.m. – Old Mutual P.L.C., London, a British insurer that is building a large U.S. asset management operation, has hired two executives to help run the operation.

? Kevin Hunt will be an executive vice president and sales director. He will be responsible for sales in Canada and Japan as well as the United States.

Hunt previously was director of the managed accounts group at Morgan Stanley, New York.

? Thomas Turpin will be an executive vice president and chief operating officer. He will be in charge of finance, legal compliance, risk management and human resources.

Turpin was head of defined contribution plans at Putnam Investments, Boston.

Hunt and Powers will both work in Old Mutual’s office in Boston, and they will both report to Scott Powers, the chief executive of the U.S. asset management unit.

Old Mutual manages about $150 billion in U.S. assets. Its U.S. asset management businesses include Pilgrim Baxter & Associates, the investment advisor to the PBHG Funds, and 19 firms obtained through the September 2000 acquisition of United Asset Management Corp.