1 min read 27 May 20
Royal London today (27 May) announces the sale of its platform business, Ascentric, to M&G plc (M&G). The sale follows the completion of Ascentric’s re-platforming in 2019 and the conclusion of a comprehensive strategic review led by Royal London Chief Executive, Barry O’Dwyer.
You can see the Royal London press release here, which gives some more information about the sale and M&G.
M&G is a financially strong, FTSE 100 global savings and investment company. It demerged from Prudential plc in October 2019 and has £323 billion of assets under management and administration across a broad range of asset types. M&G serves millions of retail customers and institutional clients in 31 markets around the world, operating under the brands of M&G Investments and Prudential.
This is extremely positive news as M&G has been clear that they plan to invest in the Ascentric business, the infrastructure and digital capability. It’s early days and the sale is still subject to regulatory approval. This means that in the short term, it’s business as usual and you won’t see any major changes to the service you receive at the moment. We’ll let you know more once we have information to share.
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