Old Mutual to rebrand advice business as part of float

Following the rebrand, Intrinsic and Quilter Cheviot will keep their names but Old Mutual Wealth Private Client Advisers will become Quilter Private Client Advisers.

Old Mutual Wealth has announced it will operate using the Quilter brand following the separation from its parent company next year, with the business to be re-segmented.

A "wealth platforms" division, will split them from Old Mutual's United Kingdom platform, to be renamed Quilter Wealth Solutions, and its worldwide business, which will be called Quilter global.

Anglo-South African insurer Old Mutual said on Wednesday it was on course to list its wealth unit as soon as possible after its 2017 results, as it announced a series of planned changes to the brand.

Old Mutual, which has a primary share listing on the London Stock Exchange, said in 2016 it planned to break itself up into four parts, blaming regulatory changes for making the company too complex to run in its current form.

Paul Feeney, chief executive officer, commented: "We have made tremendous progress over the last five years in building this unique and successful business".

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"Having two distinct but strongly complementary segments will help us continue to deliver good customer outcomes for new and existing customers".

"We very much look forward to listing in 2018 as Quilter".

The group added that Old Mutual Wealth and Old Mutual continue to assess, together with the management of Old Mutual Global Investors (OMGI) led by CEO Richard Buxton, internal and external structures for the single strategy part of that business to continue to develop it further.

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.

Work on determining the future of the single strategy business is still ongoing, it said.

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