On February 2, 2016, Old Mutual Wealth announced it will acquire Singapore-based AAM Advisory.
Leading UK wealth manager Old Mutual Wealth has signed an agreement to acquire AAM Advisory, an expatriate advisory firm in Singapore.
AAM Advisory and its team of over 30 advisors will operate separately from Old Mutual Wealth’s Asian businesses: Old Mutual International, which has offices in Hong Kong and Singapore, and Old Mutual Global Investors, which has a presence in Hong Kong. Old Mutual International and Old Mutual Global Investors will focus on the wider Asian financial advice market while distributing products via AAM Advisory.
The transaction is expected to close within a couple of months.
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