Old Mutual Wealth completes acquisition of AAM in Singapore | Old Mutual Wealth
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Old Mutual Wealth completes acquisition of AAM in Singapore

15/03/2016

Old Mutual Wealth today completes the acquisition of AAM Advisory, the leading expatriate adviser business in Singapore.

The acquisition of AAM Advisory demonstrates Old Mutual Wealth’s long-term commitment to the Singapore region and to the financial advice market.

AAM Advisory will continue to operate separately from Old Mutual Wealth’s existing businesses in the region, Old Mutual International and Old Mutual Global Investors.

Paul FeeneyPaul Feeney, CEO, Old Mutual Wealth:

“We see great potential in AAM Advisory which provides clients in Singapore with professional, competent and reliable advice. We have been working with AAM since 2009 and the speed at which this deal has completed is testament to the way our businesses are aligned with one another.

 “Our strategy is to develop a multi-channel advice business and grow deeper roots in our core markets. We remain committed to Singapore and to servicing the wider financial advice market.”

Matthew DabbsMatthew Dabbs, CEO, AAM Advisory:

“We are looking forward to being part of Old Mutual Wealth and benefiting from their financial strength, experience in supporting advice and distribution, and their in-house expertise in investment research which complements the success of AAM’s.   This is an exciting opportunity for our business and together we will continue to build a strong advisory business focused on providing positive solutions for our clients.”

Old Mutual Wealth has a strong presence in Asia, with Hong Kong and Singapore considered core growth markets for the business.

  • Old Mutual International has an established office in both Hong Kong (since 1991) and Singapore (since 2008) and is a market leader in its respective segments.
  • Old Mutual Global Investors has significant experience in the Asian market having been present in the region (Hong Kong) for over 12 years.

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:

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 £116.5 billion in customer investments (as at 30 June 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; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and 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

• Private Client Advisers to 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.