Old Mutual Wealth to rebrand as Quilter

Old Mutual Wealth to rebrand as Quilter

Old Mutual Wealth will be rebranding as Quilter after its planned listing early next year.

The two advice businesses will be rolled together with Quilter Cheviot and Old Mutual's multi-asset business, which will become Quilter Investors, in a new "advice and wealth management" business line.

Old Mutual Wealth chief executive Paul Feeney will make a presentation to investors and analysts on the company's strategic direction and growth prospects.

Financial adviser network Intrinsic will come under the advice and wealth management segment and be rebranded Quilter Cheviot Financial Planning.

In addition, under the new Quilter brand, the business will be re-segmented into two divisions: "Advice and Wealth Management" and "Wealth Platforms".

As Old Mutual Wealth confirmed its future plans followed the split, rumours still swirled around the potential buyout of Old Mutual Global Investors with a number of firms, as well as CEO Richard Buxton, rumoured to be bidding to take on the business. Its Heritage life assurance business will become Quilter Life Assurance. However, having individually strong businesses is not enough by itself to drive success.

Meanwhile the multi-asset business will become Quilter Investors, the United Kingdom platform will become Quilter Wealth Solutions and the worldwide business will become Quilter global.

"We very much look forward to listing in 2018 as Quilter". Our recently reported Q3 year-to-date flows demonstrate continued strong demand for our investment solutions and services. But it said OMGI management from the single strategy part of the business will not be presenting at today's conference. It is expected this book of business will run-off over the next couple of years.