Old Mutual is on track to complete its break-up plans this year, including a listing of its UK asset management business. The business will be named Quilter, one of its brands, and 10 per cent of its shares will be sold to new investors in the London and Johannesburg listings. That will be followed this year by a listing in the same cities of Old Mutual Limited, a holding company covering the Africa-focused emerging markets division, its stake in South Africa’s Nedbank and Old Mutual. Old Mutual is a £12 billion Anglo-South African financial services company which started as a mutual insurance company in Cape Town in 1845. It embarked two years ago on a plan to break itself into four parts, saying regulatory change…

Source: The Times March 16, 2018 00:01 UTC