The firm's initial public offering is still on track for this year, but an official date is yet to be set.

Old Mutual Wealth has changed its name to Quilter as part of its move to list and break from its parent group under plans announced late last year.

The wealth management unit of Anglo-South African group Old Mutual will rebrand over an approximate two-year period, it announced earlier this week, adding there will be “no immediate changes” for clients. 

“Building on our strong 2017 results that we announced on 15 March, we continue to make great progress towards our anticipated listing as a leading independent wealth management business,” Paul Feeney, chief executive, said. “We believe that we have a compelling investment opportunity and we look forward to listing as Quilter in due course.”

In the meantime, its UK platform and life assurance business wil continue as Old Mutual Wealth, alongside subsidiaries such as Old Mutual Wealth International and Intrinsic, its intermediary unit.