Quilter plc

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Quilter plc
Public limited company
Traded asLSEQLT
IndustryFinancial services
HeadquartersLondon, England
Key people
Glyn Jones
(Chairman)
Paul Feeney
(CEO)
ProductsAsset management
Wealth Management
Life insurance
Savings and investment
Revenue£6,163 million (2017)[1]
£(5) million (2017)[1]
£157 million (2017)[1]
WebsiteHome page

Quilter plc, formerly known as Old Mutual Wealth Management Limited, is a financial services company formed to take over the UK wealth management[2] business of Old Mutual plc after its separation of business.[3] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

Offices of Quilter plc on Lambeth Hill

In March 2016, Old Mutual plc announced its managed separation strategy that sought to unlock and create value for shareholders through the separation of its four businesses, Old Mutual Emerging Markets, Nedbank, UK-based Old Mutual Wealth and Boston-based Old Mutual Asset Management (OMAM) into standalone entities.[4] In November 2017, Old Mutual Wealth announced its intention to rebrand as Quilter plc[5] and to list its shares on the London Stock Exchange (LSE) with secondary listings on the Johannesburg, Namibia, Malawi and Zimbabwe Stock Exchanges.[6][7]

The firm selected Goldman Sachs, JP Morgan and Bank of America Merrill Lynch to lead its initial public offering which took place in June 2018 and which was estimated to have valued the company at $3.35 billion.[8]

See also[edit]

References[edit]

  1. ^ a b c "Prospectus" (PDF). Quilter plc. p. 183. Retrieved 1 June 2018.
  2. ^ "OMW - CAPITAL MARKETS SHOWCASE" (PDF). 15 November 2017. Retrieved 2018-03-10.
  3. ^ "Managed separation - Process explained". Retrieved 2018-03-10.
  4. ^ "Old Mutual to split into four units". Bbc.com. 11 March 2016. Retrieved 28 September 2016.
  5. ^ "Old Mutual Wealth Showcase". Old Mutual plc. 15 November 2017. Retrieved 11 March 2018.
  6. ^ Costello, Eugene (15 November 2017). "Old Mutual Wealth to rebrand as Quilter ahead of LSE listing next year". International Investment. Retrieved 11 March 2018.
  7. ^ "Quilter plc is ready for listing on JSE and LSE". 2 May 2018. Retrieved 16 May 2018.
  8. ^ "Old Mutual unit picks banks for $3.35 billion flotation: sources". Reuters. Thomson Reuters. 7 December 2017. Retrieved 11 March 2018.

External links[edit]