Old Mutual plans to rationalise its international businesses in early 2007, following its takeover o...
Old Mutual plans to rationalise its international businesses in early 2007, following its takeover of Skandia this February.
As a result of the acquisition Old Mutual's international business now includes Skandia offshore arm Royal Skandia. The company's existing international operations include Old Mutual International, Old Mutual Bermuda and Fairbairn Bank.
Old Mutual's main focus has been on the South African market. Although Royal Skandia does sell to South Africa it has concentrated its activities on the UK, South America, Middle East and the Far East markets.
Onshore the group announced it is going to merge Skandia's MultiFunds business and fund platform network Selestia.
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