Old Mutual to drop Skandia name in asset management overhaul

The Skandia label could disappear in the UK as part of an overhaul by parent Old Mutual, which is rebranding its merged asset management businesses as Old Mutual Global Investors.

Investment Week understands an announcement is due to be made by the group this week revealing the new name, as well as further details of a re-structure of the group’s wealth management arm. The move comes after a comprehensive review of the business with Skandia employing  external business management consultants. It is six years since Old Mutual bought Skandia in a £3.6bn deal, during which period there have been several internal reorganisations and personnel moves.  In April, Old Mutual announced it would unify its two UK asset management businesses, Skandia Investment Group and ...