Skandia brand to disappear

Passenges tunnelThe 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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