Feeney will continue to report to Paul Hanratty, chief executive of its long-term savings division and will spearhead its business for driving growth and development, the firm said.

Hanratty said, "Paul has made a significant impact since he joined Old Mutual at the beginning of this year and we are confident that he is the right man to drive the growth and development of our wealth management operation."

Currently, Feeney is acting as a chief executive of Old Mutual’s long-term savings asset management business.

In October 2011, Feeney joined Old Mutual from BNY Mellon Asset Management, where he had been an executive director and head of distribution.

Old Mutual Wealth Management is the umbrella group for Skandia UK, Skandia International, Skandia’s European businesses, Skandia Investment Group and Old Mutual Asset Managers (UK).