Oaktree acquires Sanlam Wealth UK in £140m deal

The deal is expected to close in the first quarter of 2022. Sanlam Wealth will retain its brand during a transition period but will adopt a new brand and identity "in due course". It will remain an independent business and will operate separately to Ascot Lloyd, the national IFA consolidator that Oaktree recently invested in. Chief executive of Sanlam UK Jonathan Polin (pictured) will lead the new business and will retain support of "key members of its management team", although a leadership team for the refocused business will be announced "at an appropriate point". Polin said: "T...