A MAJOR Southampton employer has a new name from today.

The investment platform business Old Mutual Wealth – which employs 1,500 people in the city – has been rebranded as Quilter by its owner Quilter PLC.

The business has been based in Southampton since 1979 and occupies two buildings, on Portland Terrace and Commercial Road.

The Portland Terrace office will have its name changed from Old Mutual House to Quilter House.

Old Mutual Wealth announces change of name and rebrand

Steven Levin, chief executive of the Quilter investment platform, said: “This is really exciting milestone for the business as it means all the Quilter businesses are now harnessing the strength of the Quilter brand.

“We’re incredibly proud of the heritage of the business as a major employer in Southampton for more than 40 years with a reputation for high quality customer service and innovation in the investment market, and we continue with those ideals at our core as Quilter.”

The rebranding is a result of Quilter PLC separating from Old Mutual PLC in June 2018 and listing separately on the London and Johannesburg stock exchanges.

The Quilter name originates with the group’s investment management business, Quilter Cheviot.

The Quilter investment platform managed £64.3billion of customer investments as of March 31. The heritage of the business lies in the Skandia UK business which was acquired by Old Mutual in 2006.

As part of Quilter PLC, the investment platform is at the heart of one of the largest wealth managers in the UK looking after more than £119.9bn of customer investments, as of March.

Its offering includes financial advice, investment platforms, multi-asset investment solutions and discretionary fund management.

The former Old Mutual told customers on its website: “From June 14, 2021 you will see our new name and the Quilter logo on our communications, website, and anything that is currently branded as Old Mutual Wealth.

“Apart from our name, nothing else will change and the ownership of our businesses remains the same.”

It added: “As Quilter we will continue to deliver the very best service to you, your family and your financial adviser to help you achieve your financial goals. We offer a comprehensive range of flexible products and investments through our award-winning online investment platform, supported by award winning service.”