Old Mutual Wealth Business Update
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Old Mutual Wealth Business Update

28/06/2016

Old Mutual Wealth acknowledges Old Mutual plc’s announcement today of its intention to deliver Old Mutual Wealth into the hands of Old Mutual plc’s shareholders by way of a demerger and listing on both the London and Johannesburg stock exchanges.*

Paul FeeneyPaul Feeney, CEO of Old Mutual Wealth, comments:  “Today’s announcement is a clear endorsement of our vertically integrated strategy and the strength and readiness of our business for the next stage of our corporate journey.  By putting customer needs at the heart of our business strategy, we are transforming into an award-winning, next generation wealth management business. Old Mutual Wealth is a purpose-led, responsible business, building simple end-to-end solutions for real customer needs, accountable for helping create prosperity for the generations of today and tomorrow.”  

Commenting on the result of the EU Referendum, Paul added: “What the landscape will look like when the UK extracts itself from the EU is far from clear. It is our expectation that the outcome of the EU Referendum vote will continue to drive increased levels of market volatility.  Our focus is on our customers, on managing their assets and helping them navigate through these uncharted waters.  We will not lose our focus on this task.”

*Readers should read this release in conjunction with the full Old Mutual  plc regulatory news release, which is available on http://www.oldmutual.com/media/news/index.jsp.

 

 

For more information contact

Vee MontebelloOld Mutual Wealth020 7778 955007872 665149vee.montebello@omwealth.com

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.