The JSE listing of Old Mutual’s former wealth management arm Quilter resulted in the share rising by about 6%. Quilter was spun out of Old Mutual and includes the UK wealth management operations. Its listing marks the final stages of Old Mutual’s break-up. CEO Paul Feeney has built Quilter into Britain’s second-largest financial adviser over the past five years. It now has a market cap of close to R51bn and is eligible for the Alsi 40. The share has been distributed to all owners of Old Mutual Plc shares.

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