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The Skandia brand disappears from the UK today (22nd September 2014) and all Skandia UK operations adopt the Old Mutual Wealth brand.

Skandia is known as the leading adviser platform in the UK but Old Mutual Wealth, under the leadership of chief executive Paul Feeney, has expanded further into a retail investment business with an adviser and customer offering spanning:

• Financial advice via the Intrinsic network and independent financial advisers
• Platform based wealth management products and services, now branded Old Mutual Wealth
• Asset management solutions via Old Mutual Global Investors available across the wider retail investment market

Old Mutual Wealth’s offshore investment business, Skandia International, will be rebranded Old Mutual International early next year.

Skandia originally launched in the UK in 1979 and was synonymous with innovation and adviser support.  It pioneered the concepts of MultiManager and fund platforms which have since become the industry norm.  It had a strong association with sailing, being the long term sponsor of Cowes Week and the Great British sailing team.

Skandia was acquired by Old Mutual plc in 2006 and the launch of the Old Mutual Wealth brand in the UK completes its integration into the FTSE 100 group.

The launch of the Old Mutual Wealth brand is accompanied by a major advertising campaign encompassing trade and consumer press, branded taxis in 18 cities, billboards across the UK including major railway stations and 16 regional airports, and sponsorship of golf coverage on Sky Sports.

To celebrate the brand launch, Old Mutual Wealth staff have become world record holders by building the largest ever coin mosaic – raising in excess of £18,000 for charity.

Paul Feeney, chief executive of Old Mutual Wealth, comments:
“There is a huge opportunity to create a company for the many who want to make a positive difference for themselves, those close to them, or the society they live in.  There is an opportunity to build a business that integrates the three elements people need to help them save for their future – financial advice, investment and retirement solutions and tax efficient products.  There is a necessity to rebuild trust in financial services by empowering customers through high quality advice and information.

“That is our focus at Old Mutual Wealth.  We are incredibly proud of our Skandia heritage and in fact we want to reignite the Skandia passion for innovation and high quality support for advisers and customers within Old Mutual Wealth.  So, we say goodbye to Skandia with pride and look forward to building a new breed of investment business as Old Mutual Wealth.” 

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145

Notes to editors:

About Quilter plc:

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

Quilter plc oversees £118.1 billion in customer investments (as at 30 September 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset 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; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.