Specific details on how Selestia is to be integrated into Skandia are unlikely to be revealed before a meeting planned for 20 June involving Old Mutual chief executive Jim Sutcliffe, Skandia chief executive Julian Roberts and company and equities analysts.
That meeting will present the analysts with more information about “the future strategic direction for the Skandia Group and what it means for the business. This is following the 100-day process of reviewing and understanding the business,” according to a statement provided to IFAonline. The tight lid on official details comes despite recent utterances attributed to Sutcliffe suggesting Selestia and Skandia’s platforms will definitely remain separate – at least at the front end. That Selestia is to become part of Skandia and not the other way round was confirmed in Old Mutual’s quarterl...
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