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Old Mutual Wealth appoints Iain Wright as chief risk officer

11/07/2016

Old Mutual Wealth, one of the UK’s largest wealth management businesses, announces the appointment of Iain Wright as chief risk officer.

Iain will be responsible for the governance and oversight of strategic, operational and financial risks to the Old Mutual Wealth businesses. His role was approved by the FCA on 5 July and he will report to Paul Feeney, CEO of Old Mutual Wealth.

Iain Wright joins Old Mutual Wealth from Sun Life Financial where he was senior vice president, enterprise and operational risk, having previously been chief risk officer at Prudential UK & Europe. He began his career as a chartered accountant with Deloitte, and later moved to the London Stock Exchange where he carried out a number of roles, including head of equity and debt markets.

When the Financial Services Authority was formed in 2000, Iain formed part of the leadership team, heading up the supervision of major insurance groups.

Kevin Lee-Crossett, who previously held the joint role of chief risk officer and chief legal officer, will move to chief legal officer, responsible for the legal functions of the expanded Old Mutual Wealth business.

Commenting on the appointment, Paul Feeney, CEO of Old Mutual Wealth, said:

“I am delighted to welcome Iain to Old Mutual Wealth as chief risk officer. His vast risk and 

Iain Wright

compliance experience across the sectors in which we operate will be invaluable as we take Old Mutual Wealth to the next stage in its development. His appointment further strengthens our executive management team.”


Iain Wright said:

“I am pleased to be joining Old Mutual Wealth at an exciting time for the business and I am looking forward to playing my part in its future success.”

 

 

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com

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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