Skandia brand to disappear as Old Mutual overhauls wealth arm

The Skandia label will disappear in the UK and a number of senior roles have been reshuffled as part of a major overhaul of the Old Mutual Wealth Management business.

Old Mutual's merged asset management businesses will be known as Old Mutual Global Investors, as exclusively revealed by Investment Week earlier this week, while the platform business, including Skandia UK and Skandia International, are rebranded as Old Mutual Wealth. Peter Mann (pictured), a well-known figure across the UK financial services industry, was chief executive of Skandia UK since May 2010, but will become managing director for the UK market in the restructured business, reporting to Paul Feeney, chief executive of Old Mutual Wealth, which will no longer be known as Old Mutual...