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Ignis Chief executive to depart as SLI takeover looms

Ignis Chief executive to depart as SLI takeover looms

Chris Samuel (pictured), chief executive of Ignis Asset Management, is to leave the group ahead of its official takeover by Standard Life Investments on July 1

The decision, believed to have been circulated via an internal email to staff, will see Samuels leave the asset manager after four years in the post. He has previously served on the boards of Gartmore, Hill Samuel Asset Management, and Cambridge Place Asset Management.

SLI agreed to buy Ignis for £390 million in March, a price that led analysts to speculate there would be significant synergies made during the integration of the asset managers.

His departure follows that of head of distribution Tim Edwards, who has joined Insight Investments, earlier this month. 

This morning, Ignis' parent group, life company Phoenix, announced FCA approval for its divestment of the asset managers to SLI.

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