Peter Hunt founded Mutuo in 2001, after a major wave of demutualisations of British building societies and friendly societies. This trend was a result of negative views about the sector reflected in tired and outdated legislation designed to serve the interests of listed firms.
Leaders of mutuals came together to establish Mutuo as a positive voice for the co-operative and mutual sector. Mutuo’s initial goal was to educate and persuade decision makers about the vital role that mutuals play in the economy. Today, Mutuo’s advocacy and research highlights the positive impact of mutual businesses globally, helping to create the conditions for mutuals to prosper.
Mark Willetts joined Mutuo in 2010, and served as the Assistant Secretary to the Ownership Commission – a two-year study into corporate diversity conducted with Will Hutton and sponsored by the Co-operative Group.
From 2015 Peter and Mark worked with the Foundation for European Progressive Studies (FEPS), co-authoring the ‘Peoples’ Business’ research document.
The Mutuo team work internationally, particularly with the Australian Business Council for Co-operatives and Mutuals (BCCM). During our partnership we have drafted plans for a new capital instrument and presented them to the Australian government. These plans were accepted in full and passed in to law in 2019.
In the UK Mutuo continues to provide secretariat services to the All-Parliamentary Group for Mutuals. During 2021 the APPG undertook an inquiry into the proposed demutualisation of LV=, one of the UK’s oldest and largest financial mutuals. The inquiry reflected broad concern amongst members and Parliamentarians about LV=’s plans. In December 2021 LV= abandoned their efforts to demutualise.
In 2022 Mutuo is working closely with the BCCM on their flagship ESG for mutuals project, which brings together co-operatives and mutuals to take advantage of pioneering developments in ESG.
To find out more about what we do, visit our Services page.