The Skandia brand in its current form is to disappear as businesses within the Old Mutual group will be merged into a single business called Old Mutual Wealth.
In a statement, the group said the consolidated business’ vision was “to combine asset management capability with UK platform strength and offshore expertise to grow into a leading provider of wealth management solutions in the UK and internationally”.
Old Mutual Wealth, previously known under Old Mutual Wealth Management, has a single senior management team led by Paul Feeney as chief executive.
Earlier this year, the Skandia Nordic business was sold to Skandia Liv. A rebranding, the group statement said, would avoid confusion created by the Skandia brand being used by two separate companies – Old Mutual and Skandia Liv.
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