Old Mutual appoints Ian Gladman as Group Strategy

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5 January 2012

Old Mutual appoints Ian Gladman as Group Strategy Director

Old Mutual plc ("the Group") today announces the appointment of Ian Gladman as Group Strategy Director. Ian, who will be a member of the Group's Executive Committee, worked previously at UBS Investment Bank where he spent 16 years, most recently as Co-Head of Financial Institutions, EMEA, covering a range of UK and European insurance companies, banks and asset managers.Ian was previously Head of Corporate Finance South Africa for UBS, during which time he advised on Old Mutual's IPO and also advised Nedbank on various assignments. Prior to joining UBS, Ian worked at Goldman Sachs and JP Morgan.Ian will assume responsibility for group strategy from Don Hope, who had indicated that he would like to retire from the Group later in 2012. Until his retirement, Don will remain on the Executive Committee, as Chairman of the Group's Bermudan business and on the Board of Nedbank.

Julian Roberts, Chief Executive of Old Mutual, said: "I am very pleased to be able to add Ian's substantial financial services expertise while retaining Don's experience and advice during 2012. It considerably strengthens the capacity of our executive team to further drive our strategic agenda forward at this critical time in the Group's development."

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Old Mutual

Old Mutual is an international long-term savings, protection and investment Group. Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 15 million customers in Europe, the Americas, Africa and Asia. Old Mutual is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others.

In the year ended 31 December 2010, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £309 billion of funds under management from core operations, and shareholders' equity of £9.0 billion.