Richard Buxton has decided to step down as CEO of Merian Global Investors (UK) Ltd., previously known as Old Mutual Global Investors (UK) Ltd.

Buxton will be replaced Mark Gregory, subject to regulatory approval. Gregory is currently an independent nonexecutive director of Merian's board, the company said Jan. 8.

"With the management buyout and rebranding complete, I believe this is the appropriate time for me to hand over the CEO role," Buxton said.

Old Mutual Global Investors, which was spun off from Old Mutual Wealth following its planned managed separation from parent Old Mutual Ltd., rebranded to Merian Global Investors in October 2018.

Buxton will remain head of U.K. equities and manager of the Merian UK Alpha Fund.