4th May 2007 08:30
Old Mutual PLC04 May 2007 Old Mutual plc Ref 27/07 4 May 2007 Skandia appoints new Nordic CEO Skandia, a subsidiary of Old Mutual plc, today announces the appointment ofBertil Hult as Chief Executive Officer of its Nordic division. Mr Hult joins theStockholm-based financial services company from Vinge, a Swedish law firm, wherehe is currently CEO. He will report to Julian Roberts, Chief Executive, Skandia,and will assume his role in early Autumn 2007. Mr Hult will be responsible for Skandia's entire portfolio of financial servicesbusinesses in Sweden, Norway and Denmark. These include life assurance, bankingand private healthcare businesses. Prior to joining Vinge, Mr Hult was Head of Asset Management & Private Bankingat Carnegie, an investment bank he joined in 1992. He also has financialservices experience from his previous roles at Handelsbanken, Ovako, SwedishMatch and Independent. Mr Hult has other current directorships at pharmaceuticalcompany Q-MED and the independent insurance adviser Soderberg & Partners. Hewill be resigning from the latter prior to assuming his position at Skandia. Julian Roberts, Chief Executive of Skandia and Old Mutual Executive Director forEurope, commented: "Bertil brings with him a great wealth of experience in financial services inthe Nordic region and we are delighted to be welcoming him to Skandia. Webelieve that his strong leadership will help maintain and build upon Skandia'smarket-leading position in Scandinavia. I and my Skandia colleagues look forwardto working with him." Bertil Hult said: "I have known Skandia well for many years, both as a client and as aprofessional while I was head of Asset Management & Private Banking at Carnegie.Skandia's ability to deliver attractive returns to its customers year after yearis a testament to its strong brand and the hard work of its employees. I amconvinced that Skandia, now that it has access to Old Mutual's internationalnetwork, will succeed in further advancing its already strong position in thesavings market." Ends Enquiries Investor RelationsMalcolm Bell UK +44 (0)20 7002 7166Deward Serfontein SA +27 (0)21 509 8709 MediaJames Crampton UK +44 (0)20 7002 7133Nad Pillay SA +27 (0)21 504 8026Gunilla Svensson Skandia +46 8 788 4297 Notes to editors About Bertil Hult Bertil Hult was born in 1956 in Stockholm. He graduated from the StockholmSchool of Economics in 1981 and is an officer in the Swedish Navy reserves. Over the next few years, Mr Hult was active in building up and developing thetreasury functions of multinational companies, working in the treasurydepartments of Swedish Match and Ovako Steel. Between 1987 and 1989, Bertil Hult was responsible for fixed-income products atHandelsbanken in Stockholm. Following this, he returned to a position as Head ofFinance for the finance company Independent. In 1992 the Nordic investment bank Carnegie recruited Mr Hult, initially asassistant head of the Corporate Finance department. Between 1993-95, whenCarnegie's ownership structure changed and Singer & Friedlander became principalowners, he served as CFO, after which he took responsibility for the newlyformed Asset Management & Private Banking business. This business unit comprisedoperations in Sweden, Norway, Denmark, Finland and Luxembourg, and includedasset management companies, fund companies, insurance brokerages, unit-linkedassurance companies and banking operations. Mr Hult joined the executivemanagement in 1993 and was one of the principals responsible for Carnegie'sstock market introduction in 2001. After nearly 12 years with Carnegie, Mr Hult left the firm in 2005 and becamethe managing partner of the Swedish law firm Vinge. Vinge is a market-leadingfirm focusing on mergers & acquisitions, stock market-related transactions, andbanking & finance. Pictures of Mr Hult are available from Old Mutual Media Relations - +44 (0)207002 7367. About Skandia Nordic Headquartered in Stockholm, Skandia and its mutual subsidiary, Skandia Liv, holda leading position in the Swedish life assurance market measured by newbusiness, with a combined customer base of 1.9 million customers in their Nordicoperations. Skandia has been in the Swedish market for over 150 years and itsbusiness in Sweden offers a full set of financial products. It also has agrowing unit-linked and life business in Denmark, as well as healthcare andbanking. In Norway, it has a successful banking operation and offers healthcareproducts. At 31 December 2006, Skandia had funds under management of SEK 106 billion. Skandia's Nordic division is part of the Skandia Group, which also includesSkandia UK & Offshore and Skandia Europe & Latin America. For further information on Skandia, please visit www.skandia.com About Old Mutual Old Mutual plc is an international savings and wealth management company basedin the UK. Originating in South Africa in 1845, the group has a balancedportfolio of businesses offering asset management, life assurance, banking andgeneral insurance services in over 40 countries, primarily South Africa, Europeand the United States. Old Mutual is listed on the London, Johannesburg andStockholm stock exchanges, among others. By conducting its business worldwide under its core values of integrity, respectand accountability, Old Mutual aspires to push beyond boundaries to drive valuefor all its stakeholders. In the year ended 31 December 2006, the group reported an increase in adjustedoperating profit of 16% to £1.4 billion (IFRS basis). Old Mutual had £239billion of funds under management at 31 December 2006, and 53,000 employees. For further information on Old Mutual plc, please visit the corporate website atwww.oldmutual.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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