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28/06

Old Mutual Wealth Business Update

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:

Old Mutual Wealth

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.

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK & Italy* and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £119 billion in customer investments (as at 30 September 2016).

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 customers across the world and has a total of £342.7 billion assets under management (as at 30 June 2016).

*Old Mutual Wealth announced the sale of Old Mutual Wealth Italy to Ergo Italia on 9 August 2016. The transaction is pending completion.

This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.