Quilter to pay out £221m on OMGI sale
Short-term performance in remaining multi-asset strategies falters
Short-term performance in remaining multi-asset strategies falters
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Old Mutual Global Investors has been renamed as Merian Global Investors, the firm announced today.
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Quilter has completed the sale of Old Mutual Global Investors (OMGI) to the single-strategy business’s management team, led by Richard Buxton and private equity firm TA Associates.
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Quilter chief executive Paul Feeney has admitted the company is “behind the eight-ball” on gender diversity as it floats on the London and Johannesburg stock exchanges on Monday following its demerger from Old Mutual.
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Quilter’s successful listing on the London Stock Exchange this morning provides validation for the platforms industry as its shares rally 9.3% in early trading.
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Quilter has received regulatory approval for the sale of Richard Buxton’s £27.5bn single strategy funds business as the wealth management business sets an indicative price range for its float later this month.
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Quilter’s independent non-executive chairman Glyn Jones has invested over £645,000 in Old Mutual as details around the firm’s managed separation are finalised.
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Old Mutual shareholders have voted in favour of the company’s much-heralded managed separation at a meeting in London.
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Alan McIntosh’s 36-year investment career started with a difficult choice between the humanities and economics but while the numbers game won out he has utilised his love of literature in his approach to business.
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Quilter has appointed Jenny Granner operations director of its adviser network Intrinsic ahead of its rebrand under Old Mutual Wealth’s managed separation.
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Quilter, formerly Old Mutual Wealth, said its assets under management and administration had fallen in the first quarter of 2018 despite net inflows increasing 14% compared to the same period last year.
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Old Mutual chief executive Bruce Hemphill and chief financial officer Ingrid Johnson have resigned from their board positions at the group as details on the final legal process for the managed separation are announced.
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