|Day's range||21.10 - 21.20|
|52-week range||20.00 - 25.20|
|PE ratio (TTM)||140.67|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
The chief executive of Old Mutual's U.S. fund arm is standing down, the Anglo-South African financial services firm said on Friday as it prepares to break itself into four parts. Peter Bain will step down as president, chief executive and director of Old Mutual Asset Management with effect from June 30, Old Mutual said. “Our business is now at a positive inflection point with great momentum, and the Board and Peter believe it is the right time to position the company for its next stage of sustained growth,” Old Mutual Asset Management Chairman James Ritchie said in a statement.
Old Mutual Global Investors is proving the benefits of not being tied down to a single investment style.
Anglo-South African financial services group Old Mutual may launch a small initial public offering for its UK wealth management arm as part of a planned break-up of the company, it said on Thursday. Old Mutual is planning to break itself up into four parts as it says regulatory change makes the company too complex to run in its current form. The firm aims to list Old Mutual Wealth as well as its emerging markets division in London and Johannesburg "at the earliest opportunity in 2018 after our full year results", chief executive Bruce Hemphill said in a statement ahead of Old Mutual's annual general meeting.