Old Mutual Wealth to be spun out and floated

Added 28th June 2016

Old Mutual Wealth is set to be spun out of its parent group and floated on the London and Johannesburg stock exchanges as part of Old Mutual’s four-way demerger.

Old Mutual Wealth to be spun out and floated

The company said today that it has now formally begun the process and made some progress on the plan it first signalled back in March.  It aims to complete this by the end of 2018.

The group will be split into Old Mutual Wealth, Old Mutual Emerging Markets, Nedbank and Old Mutual Asset Management.

The group’s emerging markets operations will be rolled into a new South African holding company. 

"We have started executing the managed separation and I am pleased with the progress that we have made since the announcement three months ago,” said Old Mutual chief executive Bruce Hemphill. “We are now in a position to provide further guidance on our plans. Increased market volatility following the referendum decision to leave the EU does not affect our strategy although it may impact the performance of the underlying businesses.”

"We are working intensively with the businesses to prepare them for separation,” he added. “We remain confident that the managed separation process will lead to the creation of shareholder value, and strong businesses for our customers, staff and other stakeholders."

Paul Feeney, CEO of Old Mutual Wealth said: “Today’s announcement is a clear endorsement of our vertically integrated strategy and the strength and readiness of our business for the next stage of our corporate journey.  By putting customer needs at the heart of our business strategy, we are transforming into an award-winning, next generation wealth management business. Old Mutual Wealth is a purpose-led, responsible business, building simple end-to-end solutions for real customer needs, accountable for helping create prosperity for the generations of today and tomorrow.”  

Feeney also noted that the post Brexit landscape for the business is far from clear. He said his expectation is that the outcome of the vote will continue to drive increased levels of market volatility. 

Kames Income Hub


Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

Square Mile Research

Lazard Emerging Markets
Lazard Emerging Markets

Talking Factsheets is a video service for users...

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

Alex Sebastian

News editor

Alex joined Portfolio Adviser in April 2014 and has been a financial journalist since 2008. He has previously held editorial positions at the Financial Times Group and Euromoney Institutional Investor. Alex is NCTJ qualified and has a degree in economics from the University of Sussex.



Investment Strategy




PA Channel Island 2016
PA Channel Island 2016

8th November 2016
The Royal Yacht, Jersey


17th November 2016
The Andaz

PA Emerging Markets 2016
PA Emerging Markets 2016

1st December 2016
The Mayfair, London

Sponsored Content

Investment Strategy