Wealth management and Financial Planning giant Quilter confirmed that is considering selling its international business.

The confirmation of the review by the group's board comes following market speculation that it was considering selling the international business.

Quilter said in a statement that it is undergoing a strategic review of its Quilter International business to “evaluate its role in delivering Quilter’s future growth ambitions.”

Options the review is considering range from retaining the Quilter International business as is to a full “disposal” of the business.

The review is at an early state and the board is expected to come to a conclusion next year.

The Quilter group currently oversees £109.5bn of investments on behalf of approximately 900,000 clients.

Old Mutual International rebranded as Quilter International as the Quilter rebranding strategy came to a conclusion in February 2020. The rebrand from Old Mutual International, an offshore financial advice business, followed name changes for other parts of the Quilter Group. 

Quilter separated from Old Mutual in June 2018 and listed separately on the London and Johannesburg stock exchanges.

Quilter International is based in the Isle of Man and operates in a number of markets, offering Financial Planning services to both expats and local investors in Africa, Asia, Europe, Latin America and the Middle East.