Old Mutual Wealth  

Changes at the top as Old Mutual Wealth turns into Quilter

Changes at the top as Old Mutual Wealth turns into Quilter

Paul Simpson will lead the multi-asset business of Old Mutual Wealth as it rebrands to become Quilter Investments.

Old Mutual is in the middle of a managed separation, with the platform, adviser business and multi-asset investment business becoming one business branded as Quilter, and the other, currently known as Old Mutual Global Investors Single Strategy, being sold to a consortium of a private equity firm and the management team, led by chief executive Richard Buxton.

The business that is to become known as Quilter PLC will be headed by chief executive Paul Feeney.

The first stage of the rebranding announced this morning (1 May) means Mr Simpson, who was appointed as head of the multi-asset business last year, will be chief executive of a business unit called Quilter Investments, which will runs the multi-asset funds business.

Mr Simpson is a former fund manager and head of alternatives at Old Mutual.

The fund management of those products will be run by Anthony Gillham, who previously held the role when the firm was called Old Mutual.

The other parts of the business, including the platform, and the adviser business will rebrand as Quilter in the coming two years.

Darius McDermott, managing director at Chelsea Financial Services, said he doesn't expect the rebrand will have any impact on investors in the multi-asset funds business.