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Old Mutual International creates head of distribution development

18/12/2015

Old Mutual International, part of Old Mutual Wealth, has created a new head of distribution development role to focus on supporting, evolving and strengthening the international adviser market through regulatory and business transformation. 

There is increasing demand from financial advisers in a number of markets for support to help them transition their business and adapt to changing regulation and customer needs. Regulation is the biggest driver of change in many regions, and advisers need to stay ahead if they are to grow and prosper in the new world.

 

Mike Leeson will move back to the UK from his current role as head of sales in Hong Kong and NE Asia to take on the new head of distribution development role. Mike will work across the international business leading transformation activities in support of Old Mutual International’s strategy and forthcoming regulatory changes. He will also have responsibility for managing relationships with global key accounts.

 

Mike has been a senior member of the distribution team in Hong Kong for the past eight years, being head of sales for the last five. During this time, Mike has been responsible for building a strong team, growing the business, and navigating it through periods of significant regulatory change. Prior to moving to Hong Kong, Mike was with Old Mutual Wealth in the UK for nine years.

 

Mark Christal will increase his responsibilities to become head of region NE Asia and CEO Hong Kong. Mark has been in Hong Kong for 11 years and has over 20 years’ experience in the business.  As general manager in Hong Kong, Mark’s current role has responsibility for the Hong Kong business and he already works closely with advisers in the region.  The continued close working relationship between Mike and Mark, together with the strength of the existing distribution team, will make it easier for Mark to take the business forward into 2016.

 

Marcel Bradshaw, sales director, Old Mutual International:

 

“We want to lead the way in helping international advisers transition and evolve their business models for the future. Mike’s knowledge of the international business and his passion for supporting advisers and raising the bar for customers makes him an ideal candidate for this role.

 

“I am pleased Mark Christal is stepping in to take full responsibility for the NE Asia region and building on his Hong Kong responsibilities. He has great leadership qualities combined with expert knowledge of the market and the needs of the local advisers. Mark and Mike have worked closely together in Hong Kong for a number of years, which will ensure a smooth handover as they transition to their new roles.” 

For more information contact:

Sophie Heywood (Lenton)  
Corporate Communications Manager | Old Mutual Wealth

M: +44 (0)7834 499 558

T: +44 (0)23 8091 6770 | Ext: 21770
E: sophie.heywood@omwealth.com | W: www.oldmutualwealth.co.uk

Notes to editors:

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

On a ‘go forward basis’, Quilter oversees £ 111.6 billion in customer investments (as at 31 March 2018).

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.

The Quilter businesses will be re-branded to Quilter over a period of approximately two years following separation from Old Mutual:

  • Intrinsic to Quilter Financial Planning
  • Private Client Advisers to Quilter Private Client Advisers
  • The Multi-Asset business to Quilter Investors
  • The UK Platform to Quilter Wealth Solutions
  • The International business to become Quilter International
  • The Heritage life assurance business to Quilter Life Assurance
  • Quilter Cheviot will retain its name.

On 19 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. 

Quilter is part of Old Mutual plc, a FTSE 100 group that provides investment, savings, insurance and banking. For the year ended 31 December 2017, Old Mutual reported an adjusted operating profit before tax of £2.0 billion. For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at www.oldmutualplc.com.

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