Savings and investments giant Old Mutual has announced that it intends to combine its Wealth Management Continental Europe business (France and Italy) with the Skandia Retail Europe business unit (Germany, Austria, Poland and Switzerland) in response to macro-economic and regulatory changes in the European industry.
"We concluded that the affluent long-term savings and investment market in Europe is attractive for Old Mutual," said Pal Hanratty, Chief Executive of Old Mutual's Long-Term Savings business.
More to follow...
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