4th Apr 2008 15:00
Old Mutual PLC04 April 2008 Ref 82/08 4 April 2008 US Subsidiary Board Change Old Mutual plc ("Old Mutual") announces that Scott Powers, Chief Executive ofOld Mutual's US businesses, is leaving to join State Street Global Advisors asPresident and Chief Executive Officer. Thomas M. Turpin, who joined Old Mutual in 2002 as Chief Operating Officer ofOld Mutual's US businesses, will serve as interim Chief Executive Officer untila successor for Mr. Powers is appointed. Mr. Turpin will work with Mr. Powersto ensure a smooth handover. Mr. Turpin has been a key member of the team since Old Mutual entered the USmarket, during which time the Group has grown US funds under management to morethan £170 billion. Old Mutual wishes Mr. Powers well in his new role and appreciates thecontribution he has made to the dramatic growth of the Group's US businesses. Enquiries Investor RelationsAleida White +44 (0)20 7002 7287Deward Serfontein +27 (0)82 810 5672 MediaMatthew Gregorowski +44 (0)20 7002 7133Siobhan McNulty +1 443 253 8896 College HillTony Friend +44 (0)20 7457 2020 Notes to Editors Old MutualOld Mutual plc is an international savings and wealth management company basedin the UK. Originating in South Africa in 1845, the Group has a portfolio ofbusinesses offering asset management, life assurance, banking and generalinsurance services in over 40 countries in Europe, the United States, SouthAfrica, Latin America, Asia and Australia. Old Mutual is listed on the LondonStock Exchange and the JSE, among others. In the year ended 31 December 2007, the Group reported adjusted operating profitof £1.62 billion (IFRS basis). Old Mutual had £279 billion of funds undermanagement and 55,000 employees at 31 December 2007. For further information on Old Mutual plc, please visit the corporate website atwww.oldmutual.com Tom TurpinTom Turpin has served as the Chief Operating Officer of Old Mutual US sinceApril 2002 and will continue to be a member of the board of directors of severalof the Group's affiliated asset management firms. He serves on the Old Mutual USExecutive Management Team, is President of the Old Mutual Asset Management TrustCompany and a Trustee of both Old Mutual Funds II and Old Mutual InsuranceSeries Fund. Mr. Turpin has been responsible for the Operations and Technologyareas within the company for the asset management and life insuranceorganizations. Additionally, he has been responsible for the asset managementaffiliate relationship function working directly with member firms. Previouslyat Putnam Investments from 1993 to 2001, Mr. Turpin was Managing Director andHead of Defined Contribution Plans, as well as Chief Administrative Officer forInstitutional Management, Defined Contribution, and Retail Businesses. Prior tojoining Putnam, he held a variety of leadership positions with The BostonCompany, primarily in the Master Trust & Custody Division, from 1982 to 1993. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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