Old Mutual Wealth has confirmed that its group company name has changed from Old Mutual Wealth Management Limited to Quilter plc.

Old Mutual Wealth, the South African-owned provider going through a major restructuring, plans to rebrand as Quilter next year in a move that will mean its adviser network Intrinsic rebranding as Quilter Financial Planning.

Old Mutual Wealth, the business undergoing major changes ahead of a parent company split, has recruited a well known industry hand, Chartered Financial Planner John Porteous, for the newly-created role of retail customer solutions director.

Old Mutual Wealth has launched a standalone multi-asset investment business as it reshapes its business model in preparation for “managed separation” of the company from its parent group.