Corporate digest

Old Mutual Wealth

A UNIT of London-based Old Mutual Group has inked a deal to acquire an expatriate advisory firm in Singapore, it said in a press release.

Old Mutual Wealth is paying an undisclosed sum to buy AAM Advisory, which it said was the largest expatriate advisory firm in Singapore with over 30 advisers. AAM had "close to S$650 million" in assets under administration as at Dec 31, 2015, an Old Mutual Wealth spokesman said.