Wealth. Later in 2014, Old Mutual Wealth sold Skandia Germany, Skandia Austria and Skandia Poland. May 2015 saw Old Mutual celebrating 170 years of operations and Bruce Hemphill becoming Group Chief Executive in November. In March 2016, Old Mutual plc announced a new strategy for the Group, called 'managed separation', that sought to unlock and create value for shareholders. The strategy would entail the separation of its four businesses – Old Mutual Emerging Markets, Nedbank, UK-based Old Mutual Wealth and Boston-based Old Mutual Asset Management (OMAM) – into standalone entities. In August 2016, Old Mutual Investment Group signed a deal with the Nigeria Sovereign Investment Authority to invest $700 million in hospitality, retail, commercial sectors, and food security, and sold its Italian wealth management arm to the ERGO Group for €278 million. A significant strategic milestone was reached during the first half of 2017 with the announcement of a series of transactions that would reduce Old Mutual plc's stake in OM Asset Management (OMAM) to 5.5%. OMAM is now independent from Old Mutual plc. Additionally, in 2017 Old Mutual completed the sale of Indian-based Kotak Mahindra Old Mutual Life Insurance Ltd. The company announced in November 2017 that Old Mutual Wealth would be demerged as Quilter plc in 2018. In June 2018 the company executed the 'managed separation' strategy. Old Mutual plc shares were de-listed and Old Mutual Limited and Quilter plc, now independent businesses, listed on the Johannesburg, Zimbabwe, Malawi, Namibian and London Stock Exchanges. On 15 October 2018, Old Mutual unbundled their majority shareholding in Nedbank, marking a distribution worth approximately R43.2 billion to Old Mutual shareholders, and the completion of Old Mutual Group's managed separation. Old Mutual's head office moved to No 1 Mutual Place, Sandton, Johannesburg in the same year. In April 2019 the company sold its Latin American businesses to Lily Bermuda Capital, a wholly owned subsidiary of Singapore-based CMIG International Holding. This was followed in May by Peter Moyo being suspended as CEO due to "a material breakdown in trust and confidence between him and the board". Iain Williamson, previous COO, was appointed as acting CEO. Operations The structure of the business is as follows: Old Mutual South Africa Old Mutual Investment Group Old Mutual Insure Old Mutual Wealth (South Africa) Old Mutual Botswana Old Mutual Ghana Old Mutual Malawi Old Mutual Namibia Old Mutual Nigeria Old Mutual Swaziland Old Mutual Zimbabwe UAP Old