Quilter plc
TypePublic limited company
JSE: QLT
IndustryWealth management
Founded2018 Edit this on Wikidata
HeadquartersLondon, England
Key people
Ruth Markland
(Chair)
Steven Levin
(CEO, subject to regulatory approval)
ProductsAsset management
Wealth Management
Life insurance
Savings and investment
RevenueDecrease £(4,040) million (2022)[1]
Increase £199 million (2022)[1]
Increase £175 million (2022)[1]
AUMDecrease £99.6 billion (2022)[1]
Total assetsDecrease £46.417 billion (2022)[1]
Total equityDecrease £1.548 billion (2022)[1]
Number of employees
4,000 (2022)[2]
Websitewww.quilter.com

Quilter plc, formerly known as Old Mutual Wealth Management Limited, is a British multinational wealth management company formed to take over the UK wealth management[3] business of Old Mutual plc after its separation of business.[4] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The stock has a secondary listing on the Johannesburg Stock Exchange (JSE).[5]

History

Offices of Quilter plc on Lambeth Hill

In March 2016, Old Mutual plc announced its managed separation strategy that sought to unlock and create value for shareholders through the separation of its four businesses, Old Mutual Emerging Markets, Nedbank, UK-based Old Mutual Wealth and Boston-based Old Mutual Asset Management (OMAM) into standalone entities.[6][7] In November 2017, Old Mutual Wealth announced its intention to rebrand as Quilter plc[8] and to list its shares on the London Stock Exchange (LSE) with secondary listings on the Johannesburg, Namibia, Malawi and Zimbabwe Stock Exchanges.[9][10]

The firm selected Goldman Sachs, JP Morgan and Bank of America Merrill Lynch to lead its initial public offering which took place in June 2018[11] and was estimated to have valued the company at $3.35 billion.[12]

See also

References

  1. 1 2 3 4 5 6 "Preliminary Results 2022" (PDF). Quilter plc. Retrieved 8 March 2023.
  2. ↑ "Helping you lead a prosperous life" (PDF). Quilter. Retrieved 17 February 2022.
  3. ↑ "OMW - CAPITAL MARKETS SHOWCASE" (PDF). 15 November 2017. Retrieved 10 March 2018.
  4. ↑ "Managed separation - Process explained". Retrieved 10 March 2018.
  5. ↑ "Quilter Share listing". Retrieved 12 May 2020.
  6. ↑ "Old Mutual to split into four units". Bbc.com. 11 March 2016. Retrieved 28 September 2016.
  7. ↑ Holt, Natalie (7 March 2016). "Old Mutual Wealth up for sale". Money Marketing (Online Edition): 1–1.
  8. ↑ "Old Mutual Wealth Showcase". Old Mutual plc. 15 November 2017. Retrieved 11 March 2018.
  9. ↑ Costello, Eugene (15 November 2017). "Old Mutual Wealth to rebrand as Quilter ahead of LSE listing next year". International Investment. Retrieved 11 March 2018.
  10. ↑ "Quilter plc is ready for listing on JSE and LSE". 2 May 2018. Retrieved 16 May 2018.
  11. ↑ Kerr, Sam (30 July 2018). "We did well because we listened, says Quilter CEO". Global Capital: N.PAG–N.PAG.
  12. ↑ "Old Mutual unit picks banks for $3.35 billion flotation: sources". Reuters. Thomson Reuters. 7 December 2017. Retrieved 11 March 2018.


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