Old Mutual PLC OML Old Mutual Wealth Management Investor Presentation

  Old Mutual PLC (OML) - Old Mutual Wealth Management Investor Presentation

RNS Number : 4244R
Old Mutual PLC
19 November 2012




Ref 108/12



19 November 2012



Old Mutual plc







Old Mutual Wealth Investor Presentation



Old Mutual plc will be holding a showcase on its Wealth business today, Monday
19 November 2012. The event will include a series of presentations by and
question and answer sessions with senior management from Old Mutual Wealth.



The Chief Executive of Old Mutual Wealth, Paul Feeney, will set out the
strategy of the business in seeking to achieve IFRS pre-tax profits in 2015 of
over £300m by increasing asset management and other product revenues,
developing distribution capacity and capability and through operational
efficiencies.



This strategy is designed to meet the Group's required return on investment
criterion of 12 - 15% Return on Equity and is predicated on the achievement of
a range of growth rates in assets under management and operating margin
scenarios.



As part of the plans, Old Mutual will take a net £15m operating charge in 2012
for closing to new business in Germany and Austria, and for redundancies and
associated costs of a staff reduction of approximately 200 employees in the
United Kingdom and France. Further measures to secure operational efficiency
and associated costs and benefits will be announced in due course.



The event will take place at Old Mutual's London office and the presentation
will start at 12:30 hrs GMT (13.30 hrs CET / 14:30 hrs South African time). A
webcast will be provided for those unable to attend in person, details of
which are at: www.oldmutual.com/showcase. Presentation documents are also
available to download from 12:00 hrs GMT (13.00 hrs CET / 14:00 hrs South
African time) at www.oldmutual.com/showcase.



There will also be an audio dial-in facility, accessible on the following
numbers by quoting pass code 228818#:



UK / International: +44 (0)20 3140 0668

US  1 631 510 7490

South Africa: 011 019 7051





Enquiries



External communications
Patrick Bowes           UK +44 (0)20 7002 7440
Investor relations
Kelly de Kock           SA +27 (0)21 509 8709
Media
William Baldwin-Charles    +44 (0)20 7002 7133

                           +44 (0)7834 524 833

Notes to Editors



Old Mutual



Old Mutual is  an international long-term  savings, protection and  investment 
Group.  Originating  in  South  Africa  in  1845,  the  Group  provides  life 
assurance, asset management,  banking and  general insurance to  more than  12 
million customers in Africa,  the Americas, Asia and  Europe. Old Mutual  has 
been listed  on the  London and  Johannesburg Stock  Exchanges, among  others, 
since 1999.



In the year  ended 31  December 2011,  the Group  reported adjusted  operating 
profit before tax of £1.5 billion (on  an IFRS basis) and had £267 billion  of 
funds under management from core operations.



For further information on Old Mutual plc, please visit the corporate website
at www.oldmutual.com



                     This information is provided by RNS
           The company news service from the London Stock Exchange

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MSCLIFIALLLALIF -0- Nov/19/2012 11:30 GMT
 
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