Farewell to the Skandia name
Skandia International - including Royal Skandia - has changed its name to Old Mutual International, completing the company-wide rebrand of the Skandia businesses to Old Mutual.
The company made the announcement today as it also revealed that Old Mutual International was planning a new fund range using the expertise of Old Mutual Global Investors.
Old Mutual International is the international arm of Old Mutual Wealth which has offices in the UK, Isle of Man, Dublin, Europe, UAE, Hong Kong, Singapore and Latin America.
The company says that Old Mutual International will play a "key part" in the Old Mutual Wealth integrated model, which consists of:
· Intrinsic and AIVA which offer financial advice in the UK and Latin America respectively
· Old Mutual Wealth, the platform operator and life company in the UK
· Quilter Cheviot, the investment manager providing bespoke portfolios
· Old Mutual Global Investors, the asset manager providing high quality funds and packaged investment solutions
Old Mutual International offers offshore bonds and investment solutions globally via offshore jurisdictions in the Isle of Man and Dublin. It will continue expanding its integrated customer proposition during 2015 and beyond, says the company, and already has an exclusive distribution agreement with AIVA in Latin America and its offshore bond is part of Intrinsic's panel in the UK.
In addition, it is preparing to launch a researched fund range utilising the investment expertise of Old Mutual Global Investors and will be looking at the possibility of exporting the investment management capability of Quilter Cheviot once that acquisition completes in early 2015.
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Old Mutual International plans to invest heavily in its Wealth Interactive service which brings platform technology to the international market.
Paul Feeney, chief executive of Old Mutual Wealth, said: "Becoming Old Mutual International is an important milestone. We are committed to building a strong cross-border investment business under the Old Mutual brand that will offer financial advisers and their clients new investment solutions, utilising the skills and resources we have invested in over recent years."
Wealth Interactive gives us a solid platform for growth and we will be investing in the Old Mutual brand in all our markets to support advisers recommending our products to their clients."
