Old Mutual Wealth to list as Quilter in 2018 following managed separation

Postado Novembro 15, 2017

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

Once the planned separation from Old Mutual is complete, the wealth management company will become Quilter Plc, it said in a statement.

The company will be split into two divisions: advice and wealth management, including Intrinsic and Old Mutual Wealth Private Client Advisers, and wealth platforms, which will include the United Kingdom platform and Old Mutual Wealth's global business.

The multi-asset businesses, recently split from the single-strategy OMGI arm, will be renamed Quilter Investors headed by CEO Paul Simpson.

Last month, OMW announced net inflows of £7.3 billion over the first three quarters, taking funds under management up to £131.3 billion.

Anglo-South African insurer Old Mutual said on Wednesday it was on course to list its wealth unit as soon as possible after its 2017 results, as it announced a series of planned changes to the brand.

The Wealth Platforms segment will include the UK Platform, which will become Quilter Wealth Solutions and the International business, which is to become Quilter International.

"Having two distinct but complementary segments will help us to continue to deliver good customer outcomes for new and existing customers". We are focused on ensuring the businesses work together to build better solutions and drive integrated flows.

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.

It will also be closing the Institutional business within Heritage to new customers as it is not core to the strategy and is very low margin.