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Old Mutual to split into four separate business

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  • 11/03/2016
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Old Mutual to split into four separate business
Old Mutual, parent company of advice network Intrinsic, has confirmed it will split itself into four separate companies to ‘unlock value’ trapped within the group structure.

The four companies will be Old Mutual Emerging Markets, Old Mutual Wealth, Nedbank and OM Asset Management. Intrinsic will sit within Old Mutual Wealth.

The group’s 2015 results revealed Intrinsic has over 3,300 financial advisers.

Group chief executive Bruce Hemphill (pictured), said its new strategy would allow each business to have simpler access to capital markets which would allow them to grow more easily with straight forward regulatory arrangements.

He said: “The strategy we have announced today sets out a bold new course to unlock value currently trapped within the group structure. We have four strong businesses that can reach their full potential by freeing them from the costs and constraints of the group.”

The separation of the four businesses is expected to be completed by the end of 2018.

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