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.
Old Mutual Wealth announced on Tuesday that it has completed its acquisition of Singapore-based expat advisory business AAM Advisory.
In an effort to bulk up its offering to high net worth clients, Old Mutual Wealth has agreed to buy discretionary manager Quilter Cheviot for £585m.
Paul Feeney is to take over as chief executive of Old Mutual Wealth Management
Old Mutual Asset Managers UK and Skandia Investment Group are to be combined into a single business.
Old Mutual has announced a newly created role for Paul Feeney, who recently departed BNY Mellon Asset Management as head of international distribution.
BNY Mellon has launched a Dublin-domiciled multi-asset global absolute return fund.
