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David Barral joins Old Mutual Wealth as independent customer champion

03/10/2016

Old Mutual Wealth is pleased to announce the appointment of David Barral as independent customer champion, supporting its Customer Outcomes Forum. 

David was previously chief executive of Aviva UK Life, the largest business unit within the Aviva Plc Group, where he led significant financial, people and customer transformation across the business during his five year tenure.

Prior to that he has held various roles including distribution director, marketing director and chief operating officer over a 37 year career in financial services. He is currently a non-executive director of LV=, chairman of Vantage Finance and chairman of Virgin Wines.

As independent customer champion, David will take a key role in helping promote customer-centric behaviours across Old Mutual Wealth, including the UK Platform, Intrinsic, Quilter Cheviot, Old Mutual Global Investors and Old Mutual International.

The newly created role will see David lend the breadth and depth of his experience in the retail financial services sector to Old Mutual Wealth’s Customer Outcomes Forum and its members. The forum is a key component of the firm’s corporate governance structure, overseeing work to drive good customer outcomes across the whole of the business.

The Financial Conduct Authority (FCA) has highlighted the importance of culture in financial services firms. The FCA business plan for 2016/17 encourages firms to focus on culture as a tool for promoting good behaviours and positive customer outcomes.

Richard FreemanOld Mutual Wealth chief distribution officer and Customer Outcomes Forum chair, Richard Freeman says: “At Old Mutual Wealth we are passionate about delivering high quality wealth management solutions to our clients and helping them achieve financial stability and prosperity for themselves and their families. In order to realise that ambition it is important we remain absolutely focused on understanding and meeting customers’ needs in everything we do as a business.

“I’m really excited that we have been able to bring someone with David’s level of knowledge and experience into the business and my colleagues and I look forward to working with him to further develop and embed our customer focused culture.”

David Barral says: “I’m delighted to be joining Old Mutual Wealth’s Customer Outcomes Forum at an exciting time for the business. It has an ambitious strategy and recognises the importance of a strong customer focus at the core of all its activities.”

 

 

For more information contact

Michael GlenisterOld Mutual Wealth020 7778 963807469 144535michael.glenister@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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