The Isle of Man-headquartered company, which includes Royal Skandia, officially took up the new name today.
Sitting under the umbrella business of Old Mutual Wealth, Old Mutual International will continue to expand its offering. Developments include the launch of a new fund range using the skills of discretionary investment management firm Quilter Cheviot, which Old Mutual bought in October this year.
The firm also has an exclusive distribution agreement with Aiva in Latin America, and this year it will introduce a major campaign to target its key markets, including Hong Kong, Singapore and the Middle East.
Old Mutual Wealth’s chief executive, Paul Feeney, said this acquisition – along with the purchase of UK-based financial services network, Intrinsic, in February – is a “game changer” because it “can offer customers and advisers more of what they want”.
“Becoming Old Mutual International is an important milestone,” he said. “We have made great strides to make our vision a reality.”
Feeney said an example of this is the potential offshore expansion of the Quilter Cheviot business model which, he said, would give international investors the opportunity to access a bespoke portfolio offering.
“Regulatory change is having a significant impact in many jurisdictions, and the markets in which we operate are rapidly evolving,” he said. “We need to make sure we stay one step ahead.”
Old Mutual International said it has been “investing heavily” in new solutions, such as introducing platform technology like Wealth Interactive to transform the way the business interacts with advisers and consumers.
Feeney said: “Wealth Interactive will provide a platform for growth going forward and will help us service and support new product initiatives across all our markets.”
