Old Mutual’s OM Asset Management plc has announced the pricing of an underwritten public offering of 13 million of its ordinary shares at a price of $14.25 (€13.65 )per share. The ordinary shares are being offered by Old Mutual plc, through its wholly-owned subsidiary, OM Group (UK) Limited. It is expected to close the deal on 19 […]
Old Mutual has agreed to sell Old Mutual Wealth Italy to ERGO Italia, owned by Cinven, the European private equity firm. The consideration for the transaction is €278m in cash, plus interest to completion. The transaction is subject to usual regulatory approvals and customary conditions and is expected to complete within six months. The sale […]
Old Mutual has entered into a short period of exclusive negotiations with Cinven over the sale of Old Mutual Wealth Italy. Although talks are ongoing, “there can be no certainty that these negotiations will lead to any transaction,” Old Mutual said in a statement sent to the London Stock Exchange. On 1 August, Reuters reported […]
British-South African life insurance giant Old Mutual has confirmed it will break up its company into four parts, following a week of intense speculation. Reporting its annual results on Friday morning, the company said the break-up would be completed by 2018. The separate companies will be Old Mutual Emerging Markets, Old Mutual Wealth, Nedbank and […]
London headquartered Old Mutual has replied to press speculation after British media Sky News suggested the group is planning a break-up of its activities. Old Mutual, which is valued £9bn (€11.4bn), announced a strategic review in November 2015 when Bruce Hemphill joined as CEO. “We can confirm that all options for the strategic review are being […]
Justin Wells (pictured), investment director Global Equities at Old Mutual Global Investors (OMGI) will discuss diversified alpha at the InvestmentEurope Paneuropean Fund Selector Summit held in Hamburg on 7-9 October. Wells will discuss how holding a combination of several types of stocks in the portfolio at any one time allows fund managers to develop a strategy […]
Old Mutual Global Investors (Old Mutual) has announced the opening of its Swiss office with the appointment of Dominik Issler as head of DACH distribution. Based in Zurich, Issler, who joined Old Mutual from Martin Currie Investment Management in April, will now be responsible for building Old Mutual Global Investors’ business in the Swiss, German […]
Skandia International, including Royal Skandia, has completed its rebrand to Old Mutual International in all markets it serves globally. Old Mutual International is the cross-border product provider of Old Mutual Wealth, which seeks to provide financial advice, products, and both investment and asset management. The business is part of Old Mutual’s group integrated model, which […]
Old Mutual Global Investors has appointed Allan MacLeod (pictured) to the newly created role of head international distribution. Based in London, he will be responsible for expanding Old Mutual’s presence internationally. He will be reporting to Warren Tonkinson, head of Global Distribution. McLeod joins Old Mutual from Ignis Asset Management, where he most recently worked […]
Skandia, part of the Old Mutual Group, is to retain the Invesco Perpetual Income and High Income funds on its platform serving financial advisers. The business had previously proposed removing these funds following the departure of long time portfolio manager Neil Woodford (pictured), who left to set up Woodford Investment Management. “Skandia is now confident […]
It looks as though Draghi has done enough to keep deflation at bay and boost growth, says Kevin Lilley, manager of Old Mutual European (ex-UK) Equity Fund.
Kevin Lilley, manager of the Old Mutual European Equity and Old Mutual European (ex UK) Equity funds, sees a revival of investor interest in the TMT sector.