Old Mutual (US) Holdings, the parent to Pilgrim Baxter and the former United Asset Management affiliates has taken Scott F. Powers to head its $164 billion US asset management business. Powers, who most recently headed sales and marketing for Mellon Bank's institutional asset management business, will run all of Old Mutual (US) asset management units, including its fund business, according to a spokesperson.

Powers, 41, remains at Mellon through August 1 and will start at Old Mutual in the newly created role on September 1. He will be based in Boston and report directly to Eric Anstee, chief executive - financial services of Old Mutual.

He said that his priority will be "to seek strategic opportunities to build the value of these firms and to ensure that each has the resources it needs to excel in the industry."

Mellon told its staff of Powers' resignation nearly two months ago. At that time it designated Guy Hudson, a senior executive in Mellon's London-based Newton Investment Management unit, to take over Powers' duties. Hudson takes the takes the title of executive director for sales and marketing at Mellon Institutional. Why still in London today, Hudson is planning to relocate to Pittsburgh.  

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