Old Mutual Wealth splits £16bn multi-asset business from OMGI

Ahead of planned 2018 listing

Julian Marr
clock • 1 min read

Old Mutual Wealth is to carve a ready-made £16bn multi-asset business out of its fund management operations, running it separately from the existing single-strategy range of Old Mutual Global Investors (OMGI).

The move - revealed as media reports emerged of OMGI CEO Richard Buxton talking to private equity firms about a buy-out of that business - is part of a continuing refinement of Old Mutual Wealth's business model ahead of its ‘managed separation' from parent Old Mutual and own stockmarket listing next year. The multi-asset business, which comprises portfolio management of multi-asset funds and managed portfolio services as well as fund research, will be led by Paul Simpson. In addition to his appointment as CEO, Simpson will - subject to regulatory approval - become a member of the Old Mu...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Critical Illness

RedArc sees increased demand for support around serious conditions

RedArc sees increased demand for support around serious conditions

Support for stroke cases up by 113%

Jaskeet Briah
clock 04 June 2025 • 2 min read
Worth the wait

Worth the wait

NHS waiting list cover

Alan Lakey
clock 08 May 2025 • 3 min read
CIExpert comments on Guardian's CIC update

CIExpert comments on Guardian's CIC update

Additional conditions covered

Cameron Roberts
clock 23 April 2025 • 1 min read