Nationwide Mutual Insurance Company says it is continuing to look into the possibility of selling its NWD Investment Group to its Nationwide Financial Services Inc. affiliate.
Nationwide, Columbus, also says Paul Hondros, the president of the unit and chairman of the unit’s Gartmore Investment Management business, is stepping down Friday to pursue other opportunities.
Nationwide acquired NWD Investment Group, formerly Gartmore Group, London, from Royal Bank of Scotland P.L.C., Edinburgh, in 2000.
Hondros has been running the business since 2002.
John Grady will run the business on a temporary basis when Hondros leaves, Nationwide says.
Grady began working for Nationwide in October. He previously was chairman of Constellation Investment Management Company, Berwyn, Pa.