Old Mutual Wealth has released further details on its managed separation, with the firm expected to list as Quilter on 25 June and Old Mutual plc chief executive Bruce Hemphill resigning from the board.
In a shareholder update published this afternoon, the firm said Hemphill, who has been chief executive since November 2015, resigned on 19 April. Looking at the process of de-listing, a prospectus has been published and Quilter shares are due to list on the London Stock Exchange on 25 June, with Old Mutual being delisted the following day, subject to shareholder and court approval. The firm announced it would be rebranding as Quilter last November and the business will be re-segmented into two divisions: 'Advice and Wealth Management' and 'Wealth Platforms'. The businesses within t...
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