His successor was chief executive of Transamerica Life Bermuda in the city state
Ian Kloss has stepped down as chief executive of Quilter International Singapore.
He recently left Quilter International and has relocated to the UK, the insurer confirmed on Tuesday.
High net worth strategy
His replacement has been named as Nicholas Kourteff, who joins the international life office from Transamerica Life Bermuda where he served as Singapore chief executive.
He has held a number of senior roles at some of the biggest names in the sector during his 25-year career. These include Credit Suisse, UBS, Axa Wealth Management Asia, Winterthur Life and Commonwealth Bank of Australia.
Quilter platform flows hit record £1bn in March Beating heart of businesss
Paul Feeney: I have often described our platform as the beating heart of our business and the opportunity it provides as being transformative for Quilter. It is therefore particularly pleasing to see a meaningful pick-up in the rate of platform sales.
The Quilter Investment Platform achieved record gross flows in March 2021 exceeding monthly sales of £1bn for the first time, according to Q1 results.
Assets under management and administration ( AuMA ) were £119.9bn at the end of March - an increase of 26% from end March 2020 and up 2% from 31 December 2020, the company said in a stock market announcement.
Firm ‘pleased’ with shareholder feedback and market reaction to sale of international arm
Financial services giant Quilter has experienced a significantly positive first quarter of 2021 with assets under management and administration (AuMA) soaring by 26% compared to the same period last year.
This also marks a 2% rise to nearly £120bn ($166bn, €138bn) from Q4 2020.
The growth was largely led by its investment platform, after completing its migration in February 2021, which reported a 29% increase in gross sale for the first three months of the year to £2.2bn, compared with £1.7bn in the same period in 2020.
The firm said this led to a 100% increase in net inflows to £1bn, from the £500m last year.
Quilter s revamped investment platform helps deliver jump in total assets
Quilter (formerly Old Mutual) is a principle sponsorship partner of England rugby (Photo by Michael Steele/Getty Images)
Stimulus measures and the vaccine rollout helped push Quilter’s total assets 26 per cent higher in the first three months of the year.
The FTSE-listed wealth manager and England rugby sponsor said assets under management and administration (AUMA) totalled £119.9bn in the three months to March, compared to £95.3bn a year earlier.
It was partly driven by a 240 per cent increase in net inflows of £1.2bn as well as positive investment performance and markets.
Quilter sees ‘meaningful pick up’ in platform sales
By Katey Pigden 21
Paul Feeney
Quilter has reported “significantly improved” net flows, led by its investment platform, which recently welcomed remaining advisers onto the new system after an epic replatforming journey.
In a trading statement this morning for the first quarter of 2021, Quilter revealed its platform delivered a 29% increase in gross sales of £2.2bn for the quarter.
The firm had £119.9bn of assets under management and administration (AUMA) at the end of March, up 26% from last year.
Results also show first quarter gross sales of £3.8bn and net inflows of £1.2bn, which Quilter says is a 240% increase on the first quarter of 2020.