Old Mutual to rebrand and list wealth unit

Old Mutual Wealth to rebrand as Quilter

Old Mutual Wealth to rebrand as Quilter

The two advice businesses will be rolled together with Quilter Cheviot and Old Mutual's multi-asset business, which will become Quilter Investors, in a new "advice and wealth management" business line.

A "wealth platforms" division, will split them from Old Mutual's United Kingdom platform, to be renamed Quilter Wealth Solutions, and its worldwide business, which will be called Quilter global.

Anglo-South African insurer Old Mutual said on Wednesday it was on course to list its wealth unit in 2018 and announced a series of planned changes to the brand. Clients will not be affected, it added.

Following the rebrand, Intrinsic and Quilter Cheviot will keep their names but Old Mutual Wealth Private Client Advisers will become Quilter Private Client Advisers.

Meanwhile the multi-asset business will become Quilter Investors, the United Kingdom platform will become Quilter Wealth Solutions and the worldwide business will become Quilter global. Its Heritage life assurance business will become Quilter Life Assurance. We are well-positioned to build on what we have achieved in one of the world's largest and growing wealth management markets. "We believe that we have a compelling investment opportunity as we continue to deliver strong and sustainable returns for shareholders in our own right as a fast-growing, independent and publicly listed company".

Mr Feeney said the company's recently announced flows, which increased 53 per cent to £4.9bn, showed there was strong demand for its services. But it said OMGI management from the single strategy part of the business will not be presenting at today's conference.

It has been reported that groups including Challenger and Macquarie Investment Management are engaged in a £550m bidding war for the single strategy part of OMGI.

Notícias recomendadas

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.