Great-West Lifeco has merged three of its European subsidiaries to create a £135bn UK-based asset manager.
The Canadian financial services firm has merged Canada Life Asset Management (CLAM), Setanta AM and Irish Life Investment Managers to form Keyridge Asset Management.
The Irish Life Investment Managers and Setanta brands will continue to operate in Ireland, while CLAM will remain active in the UK.
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Irish Life Investment Managers managing director Patrick Burke has been named Keyridge Asset Management CEO.
“Launching Keyridge in the UK reflects both our confidence in this market and our commitment to serving clients in one of the world’s most influential financial centres,” he said.
“Keyridge will provide UK wealth advisers and customers with the focus and expertise of our specialist investment management teams, combined with the scale, support and efficiency that goes with being part of a $3trn global financial services group.
“Our ability to connect the full breadth of our investment expertise with a highly adaptable platform and partnership-driven culture means we can deliver solutions that truly align with our clients’ priorities.”
Lindsey Rix-Broom, Great-West Lifeco CEO Europe, added: “Combining these businesses allows us to harness the best of our talent, technology and investment capabilities, ensuring we are well positioned to realise our vision for Keyridge and for our clients.”
