29th Sep 2005 08:30
Old Mutual PLC29 September 2005 Old Mutual plc Old Mutual plc Appoints Group Director for Southern Africa Old Mutual plc is pleased to announce the appointment of Bob Head (47) as GroupDirector, Southern Africa. Head, who is currently Old Mutual plc Group HumanResources and Strategy Director, will take up his new appointment on 3 October2005. Head will be responsible for all Old Mutual plc interests in South Africa andelsewhere in Africa. He will become a non-executive director of Old Mutual LifeAssurance Company (South Africa). Head is currently and will remain anon-executive director of Nedbank and Mutual & Federal. His appointment arises from the Old Mutual Group's strategy of aligning itsthree South African businesses - Old Mutual South Africa, Nedbank and Mutual &Federal - more closely, leveraging their major market positions and leadingbrand strengths through closer co-operation in the markets they serve. Together, Old Mutual's South African businesses employ 37,500 people who serveroughly 6 million clients. Head brings with him a wealth of experience gained from leadership positions atinnovative, energetic and customer focused financial services companies in theUK. In the three years prior to joining Old Mutual in February 2003, Head was CEO ofsmile.co.uk, one of the most highly rated online banks in the UK. Between 1995and 2000, he was Finance, Investment and Treasury Director at egg.com - theworld's largest pure online bank with over 3.6 million customers. Prior to thathe spent five years as a director of the International Division of thePrudential, one of the world's leading international financial services groups. Head was Acting Finance Director for Nedbank in early 2004 before successfullyco-ordinating the black economic empowerment ownership initiatives of the OldMutual Group in South Africa announced in April this year. Old Mutual Chief Executive, Jim Sutcliffe, says that in addition to Head's longand successful business track record, he has a deep understanding of the Group'sSouth African businesses and a passion for the country. "This combination will be particularly valuable to us as we seek to exploit thesynergies and opportunities for cross marketing within our key Old Mutual,Nedbank and Mutual & Federal brands and create value from our recent BEEtransaction," says Sutcliffe. 29 September 2005 ENQUIRIES: Old Mutual plc UKMiranda Bellord +44 (0) 20 7002 7133 Old Mutual plc SANad Pillay +27 (0) 21 504 8026 For further information about Old Mutual plc visit www.oldmutual.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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