The parent company of Old Mutual International, Quilter plc, listed on the London and Johannesburg stock exchanges on June 25.

This is a key milestone in Old Mutual plc’s managed separation process that started in March 2016.

The South African business, Old Mutual, is being separated from Quilter, the British arm of the wealth management company, currently trading as Old Mutual Wealth.

As part of this process, the Old Mutual Wealth group changed its name to Quilter earlier this year.

While the Quilter name may be new to the Isle of Man, it dates back to 1771.

A spokesperson for Old Mutual International said that, with about 500 staff working at the company’s headquarters at King Edward Bay House, Onchan, its commitment to the Isle of Man was strong and the business was proud to be one of the island’s largest private sector employers.

He added: ’It has taken an enormous amount of work by many people across our business to get us to where we are today, so we want to thank each of our employees for their contribution towards this occasion.

’To show our appreciation, all employees of a participating Quilter group company, including Old Mutual International, on 1 May 2018 will be eligible to receive free shares to the value of £2,000 in Quilter plc.

’While our parent company has already changed its name, the new brand will be phased in across the company over a period of approximately two years. We will continue to be known as Old Mutual International into 2019, during which we will become Quilter International to reflect the new corporate identity of our parent.