ANALYSIS: Changes for the ‘changemaker’ as OMW priced up
The four-way split of Old Mutual may be big news globally, though for many observers – and potential acquirers – the more remarkable story is its growing Wealth business.
M&A Deals
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Old Mutual to break into 4 new businesses
South African financial services group Old Mutual has decided to break up its business into four separate units as it believes they will perform better independently.
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Old Mutual considering break-up options
Speculation is growing that Old Mutual, the global financial services group, may be about to announce plans to break up its operations into four new units.
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Zurich buys Australian Life business from Macquarie Group
Zurich Australia, part of Zurich Insurance Group, said it has reached a deal with the Macquarie Group to buy its Australian life insurance business for an undisclosed sum.
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Wealth Manager M&A hits highest level since 2009
Wealth management merger and acquisition (M&A) activity reached its highest level since the recovery from the global financial crisis began, according to a report by Scorpio Partnership.
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Two Swiss private banks agree deal to build global giant
Zurich-based private bank, EFG International, has agreed a deal with Brazilian bank BTG Pactual to buy its Lugarno-based private banking unit BSI, one of the oldest Swiss banks, for about CHF1.33bn ($1.34 bn, £940m) in cash and stock.
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Three bidding for Barclays Asia private wealth business
Singapore’s DBS Group and Oversea-Chinese Banking Corp (OCBC), and Swiss-headquartered Julius Baer have reportedly submitted non-binding bids for Barclay’s Asian private wealth business, reports Reuters.
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Aegon set to sell annuity book to Rothesay – report
Rothesay Life, the UK-based insurer is in exclusive talks to buy Aegon’s £9bn UK annuity book, Reuters has reported.
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AllianzGI to buy Rogge Global Partners from Old Mutual
Allianz Global Investors is set to purchase £24.1bn fixed income house Rogge Global Partners (RGP) for an undisclosed sum.
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Axa sells Hungarian banking operations to focus on retail
Axa Bank Europe, part of the global insurance and asset management giant Axa Group, has agreed to sell its Hungarian operation to OTP Bank in a move that will see it fully focusing on retail banking.
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Barclays bids for TD Direct, could rival Hargreaves Lansdown
Barclays has emerged as a potential buyer of TD Direct Investing, one of the biggest retail stockbroking businesses in the UK, in a move that could create a challenger to current market leader Hargreaves Lansdown.
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Intrinsic buys Financial Adviser School from Sesame
Intrinsic, part of Old Mutual Wealth (OMW), has acquired the Financial Adviser School from Sesame Bankhall Group (SBG).