The new team will manage and create investment solutions for the Skandia businesses in the UK and abroad.  Initially it will help create "Select", the new focused fund range due to launch in the UK during 2013.  The team will also be responsible for investment oversight of the external fund ranges on Skandia’s platforms and manage the commercial aspects of those relationships with fund group partners.

Skandia’s existing investment marketing team, headed up by Graham Bentley, responsible for the promotion of Skandia’s investment propositions, will continue to lead sales and marketing activities with Skandia’s fund group partners globally, according to a statement from the firm.

Millard was previously director of investments at Old Mutual Global Investors, which is also part of Old Mutual Wealth along with the Skandia businesses.  Prior to that he was chief investment officer at Skandia Investment Group - which was merged with Old Mutual Asset Managers to create OMGI - where he led the team behind its range of multi-manager solutions.

He will take up his new role on 1 January and report to Hylton Donnelly, commercial director of Skandia.