Ex-Quilter boss joins IFA group as chief executive
As the company bids to become one of the ‘leading wealth management businesses’ in the country
As the company bids to become one of the ‘leading wealth management businesses’ in the country
He says ‘it’s time to pass the baton’
But multi-asset business flows slumped in Q4
Firm ‘pleased’ with shareholder feedback and market reaction to sale of international arm
But Q1 inflows on par with last year despite market volatility
People aren’t putting more discretionary money to work but our advisers have never been busier, he says
Quilter revamps its executive committee following rebrand and IPO
Quilter employees were among the main beneficiaries when the insurer floated on the London and Johannesburg stock exchanges on Monday following its demerger from Old Mutual.
Old Mutual Wealth is now ready to list as Quilter, with its annual results showing the company’s pre-tax profits rose by 40% in 2017, driven by “unusually high” performance fees.
Old Mutual Wealth will operate as Quilter plc, with the international arm based on the Isle of Man becoming Quilter International, once the managed separation of Old Mutual is completed in 2018.
Strong cash flows and a solid performance saw Old Mutual Wealth’s (OMW) funds under management rise 14%, year to date, with the firm’s net cash flow soaring 92% on the back of a strong performance by Intrinsic.
Old Mutual Wealth is to spin off a dedicated £16bn ($20.7bn, €17.5bn) multi-asset investment business as part of the ongoing “managed separation” from its parent company.