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st April 2021 8:20 am
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Quilter International sells for £483m
Quilter has agreed to sell its international business for £483m to life assurance group Utmost Group, as it looks to focus its attention on its UK wealth management division.
The FTSE-listed wealth manager announced the board had “unanimously agreed” to sell Quilter International as it was “less strategically aligned” to Quilter’s UK proposition.
In a stock market announcement today, the company said the customer overlap between Quilter’s UK customers and Quilter International has also reduced in recent years.