In an announcement on Wednesday morning, the group confirmed the Old Mutual brand would be dropped and the Quilter name adopted across its advice and wealth management business.
The news comes amid ongoing work to separate the four arms of Old Mutual into standalone businesses in their own right by the end of 2018.
The firm said the Quilter name, which was first established in 1771, was a “brand that stands for quality, for personal service and for dependability”.
Old Mutual Wealth also announced it would break the business into two divisions, an advice and wealth management arm and wealth platform arm.
Financial adviser network Intrinsic will come under the advice and wealth management segment and be rebranded Quilter Cheviot Financial Planning.
The multi-asset businesses, recently split from the single-strategy OMGI arm, will be renamed Quilter Investors headed by CEO Paul Simpson.
Quilter Cheviot will retain its name.
The firm claimed there would be “no immediate changes” for customers and expects the rebrand to take about two years to complete following the separation from Old Mutual.
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.
Work on determining the future of the single strategy business is still ongoing, it said.
In a statement the firm said: “Old Mutual Wealth and Old Mutual continue to assess, together with the management of Old Mutual Global Investors (‘OMGI’), internal and external structures for the single strategy business to continue to develop it further.”
