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OMGI appoints Diego Parrilla as managing director, commodities

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Old Mutual Global Investors (OMGI), part of Old Mutual Wealth, has appointed Diego Parrilla to the newly created role of managing director, commodities. 

Based in Singapore, Parrilla will report to Paul Simpson, investment director at OMGI.
He will initially be responsible for promoting and building the GBP60 million Old Mutual Gold & Silver Fund to the institutional investors in Singapore and other markets in which OMGI operates. 
He will also be working with OMGI’s management team to identify absolute return strategies across precious metals and commodities that are aligned with the strategic direction of the company, and with client demand and market suitability.
Parrilla joins from Dymon Asia Capital, where he worked from August 2015 having previously held a number of high profile investment and distribution positions during his career, including portfolio manager at BlueCrest Capital Management, from June 2014 to July 2015; managing director and head of commodities, Asia Pacific at Merrill Lynch from 2009 to 2011; and managing director and global head of commodity sales at Merrill Lynch from 2005 to 2009.
Prior to this, Parrilla was an executive director in the commodities division at Goldman Sachs from 2001 to 2005, and started his career as a precious metals trader at JP Morgan in London in 1998.
He is also a best-selling author having co-written The Energy World Is Flat: Opportunities From The End of Peak Oil in 2015 and La Madre De Todas Las Batallas in 2014. He is a regular contributor to el Mundo and the Financial Times.
Richard Buxton, chief executive, OMGI, says: “Diego is a highly accomplished and respected investor and commodities economist, and we’re thrilled to welcome him to the team. At OMGI we recognise that precious metals have become an increasingly important asset class as investors look to hedge against the impact of modern monetary policy.
“We will call upon Diego’s significant experience and knowledge of commodity markets to assess client demand for alternative commodities products in the future.”
Parrilla adds: “We are seeing a perfect storm in the gold markets whereby central banks and global markets are testing the limits of monetary policy, credit markets, and fiat currencies, which in my view support a multi-year bull market for precious metals.
“The Old Mutual Gold & Silver Fund offers a differentiated proposition. I look forward to working with the entire OMGI team to continue to deliver best in class solutions across precious metals and commodities, key components of global macro markets, for our clients.”
The Old Mutual Gold & Silver Fund launched in March 2016 and is managed by Ned Naylor-Leyland. It aims to deliver a total return and uses a distinctive investment approach, combining indirect exposure to gold and silver bullion with selected precious metals mining equities. 

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