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Old Mutual Wealth bolsters leadership team Steven Braudo to join as Chief Operating Officer

06/05/2016

Old Mutual Wealth announces the bolstering of its Executive Committee with the appointment of Steven Braudo as Chief Operating Officer (‘COO’), effective 1 June 2016.  This appointment is subject to regulatory approval.

Steven brings significant senior management and strategic experience to Old Mutual Wealth, which will be pivotal as the business prepares for the next phase of its corporate journey.  Reporting to Paul Feeney, CEO, Steven will be a key member of the executive leadership team, supporting the running of the broader business and contributing to the future strategic direction of the business. 

Steven has spent over 23 years working in the South African financial services industry, fulfilling many executive management roles, including roles with UK and global wealth management responsibilities.  He joins Old Mutual Wealth from Standard Bank Wealth where he has been CEO since 2015.  Prior to Standard Bank Wealth, Steven worked for Liberty Holdings Limited from 2008 in a number of subsidiary positions, before becoming Deputy CEO of Liberty Holdings itself in 2013.  Steven also brings main board governance experience having been appointed to the Liberty Board of Directors in 2013.

Paul FeeneyPaul Feeney, CEO of Old Mutual Wealth, comments:  “I am delighted that Steven has agreed to join us.  His wealth of general management experience will be invaluable to our leadership team.  Our goal is to continue to build on the strategy that has helped us transform our business over the last four years.  To enable this momentum to continue, our focus will be on ensuring that our vertical integration model is robust, that it drives further collaboration between the individual Old Mutual Wealth businesses and that its value is realised for the benefit of our customers.  Steven’s experience will be pivotal in helping us achieve this goal.” 

As a result of the broadening scope of the COO’s responsibilities, Paul Penney has decided to leave the business later in the year.  Old Mutual Wealth would like to thank Paul for his significant contribution over the last four years, as well as his continued support through this period of transition.

 

 

For more information contact

Vee MontebelloOld Mutual Wealth020 7778 9550vee.montebello@omwealth.com

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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