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10/03/2014

Peter Mann, vice-chairman of Old Mutual Wealth, today announces his intention to retire from the Group and pursue new challenges outside of the company. Peter has been with Old Mutual Wealth, comprising Skandia and Old Mutual Global Investors, for 12 years, arriving in 2001 when the Group acquired Bankhall where Peter was CEO. Peter has since held a number of positions in the business including CEO Skandia UK and vice-chairman Old Mutual Wealth.

Peter Mann, Vice Chairman, Old Mutual WealthCommenting on his decision Peter said: “In October of last year I agreed to take on the role of vice-chairman to support Paul Feeney and the rest of the management team in our exciting journey to move from the best investment platform in the UK to the best investment business. Following the launch of our WealthSelect product range, the acquisition of Intrinsic and the arrival of key new talent I am confident that journey is well underway. There is a strong team in place to take the business forward.  The time has come for me to say goodbye to colleagues in this business and to explore new challenges elsewhere.”

Paul Feeney, CEO of Old Mutual Wealth, said: “We are very sorry to see Peter go and we will always be grateful for his significant contribution. We have been proud to have him as a part of our team for so long. Peter is held in high regard not only by this business, but within the industry as a whole, and I know we shall continue to enjoy his interest and his regard as he moves on to tackle new challenges.”

Peter will stay with the business until the mid-year to ensure a smooth hand over of his responsibilities.

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076

Notes to Editors:

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).

It has an adviser and customer offering spanning: Financial advice; investment platforms; multi-asset and single strategy investment solutions; and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Old Mutual Wealth’s multi-asset investment solutions business.

Old Mutual Global Investors (‘OMGI’) is the asset management business of Old Mutual Wealth with £39.8bn funds under management (as at 30 September 2017). On the 19th December 2017, Old Mutual Wealth announced that it has agreed to sell its Single Strategy asset management business to the Single Strategy Management team and funds managed by TA Associates. The proposed transaction is subject to customary closing conditions, including regulatory approvals. 

Following managed separation from Old Mutual plc, Old Mutual Wealth will rebrand to Quilter plc. Each of the businesses within the Quilter Plc group will be rebranded over a two-year period, with the exception of Quilter Cheviot, which will retain its existing name.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).

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This communication is issued by Old Mutual Wealth Management Limited, a Private Limited Company (Company Number 0604270), Old Mutual House Portland Terrace Southampton Hampshire SO14 7EJ.