Image:
Paul Feeney: "We continue to refine the long-term strategy of our business and our preparations for listing in 2018 are well on track."
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...
To continue reading this article...
Join Cover
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
- 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.
