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Andy Thompson appointed CEO of Intrinsic Financial Services

10/12/2015

Old Mutual Wealth announces today that Andy Thompson has been appointed CEO of Intrinsic Financial Services, subject to regulatory approvals being received. Andy will continue to report to Richard Freeman who is stepping up to become chief distribution officer at Old Mutual Wealth.

Andy was previously distribution director at Intrinsic, responsible for Intrinsic’s proposition and leading the distribution team to provide first-class products, services and support for advisers across the network. He was recently appointed managing director of Intrinsic and has worked closely with Richard Freeman on business strategy since 2012.

Richard Freeman will continue to oversee the strategic development of Intrinsic as part of a broader role in which he will draw together all distribution activities across Old Mutual Wealth’s vertically integrated distribution businesses.

Richard’s appointment as chief distribution officer will allow for a seamless transition of responsibilities to Andy. In particular, Richard will continue to work closely with the business in 2016 as it looks to complete the acquisition of the Financial Adviser School from Sesame Bankhall Group.

Andy Thompson said:

Andy Thompson

“I am thrilled to have the opportunity to work with my colleagues in Old Mutual Wealth to lead a business that is so well positioned within the market as the largest distributor of advice in the UK, across restricted, independent and mortgage and protection. Richard has led Intrinsic from being a start-up to a financially secure business, with a long-term vision for the future based entirely around the delivery of high quality, face-to-face advice.

“We have ambitious plans for our business and there is much to deliver in 2016. I look forward to taking the helm and continuing to work closely with Richard in his new role as chief distribution officer.”

Richard Freeman said:

Richard Freeman“Old Mutual Wealth is uniquely positioned in that it offers high quality customer-based product solutions, investment management and asset management across multiple advice channels. The opportunity to become chief distribution officer at this time is one I could not turn down.

“I look forward to helping realise the potential we have in our constituent parts, working together to deliver compelling products with exceptional service to financial advisers and which deliver good outcome based solutions for their clients.

“In Andy, Intrinsic has a highly experienced leader with an acute knowledge of what it takes to deliver for customers and a strategic understanding of how to run a successful advice proposition. I am certain Intrinsic will go from strength to strength under his guidance and I look forward to remaining part of that journey.”

As a result of the changes to the evolving management structure of the Wealth business and after careful consideration, Mary-Anne McIntyre is leaving the business to pursue other opportunities. She leaves the business with our best wishes and we wish her every success in the future.

Media Enquires:

Vee Montebello, Director of Communications, Old Mutual Wealth

020 7 332 7687 or 07872 665149

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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