Changes to senior operational management roles

RNS Number : 0183U

Old Mutual PLC

15 December 2011

 



Ref 232/11

15 December 2011

Changes to senior operational management roles at Old Mutual plc

Today Old Mutual plc announces the following changes in its senior operational management roles:

Sue Kean has been appointed Group Risk Officer and will join the Group Executive Committee from 1 January 2012. Sue joined Old Mutual in July 2010 as Head of Governance and Regulatory Compliance.  In this role she has led the continued development of the Group Governance Framework and the Group Operating Model and has also managed our relationship with the Financial Services Authority.

Mark Baxter, who has been appointed deputy Chief Risk Officer as well as Group Chief Actuary, and Jason Baker, Group Head of Risk, will report to Sue directly.

Sue's appointment follows the decision by Andrew Birrell, the current Group Risk and Actuarial Director, that this is the right time for him to leave Old Mutual and pursue new challenges, given the significantly improved risk position and risk management framework that the Group has achieved over the past two years.

Julian Roberts, Group Chief Executive, commented: "I welcome Sue to the Group Executive Committee; she has many years of experience in the management of risk and governance at several international insurance groups.

"I want to acknowledge the important contribution Andrew has made during his four years with the Group through transforming Old Mutual plc's Risk and Actuarial capabilities and building a talented team around him. First in South Africa and then at Group level in London, he has led the development of a top class risk management and actuarial function which has been recognised as an industry leader in preparing Old Mutual for Solvency II.

"In addition, he has made critical contributions in resolving key risk issues that arose during the financial crisis, including those in the U.S. Life business and Bermuda and as a member of the Group Executive Committee, in delivering the turnaround of the Old Mutual Group"

Enquiries

External Communications / Investor Relations
Patrick Bowes		[phone]
Media
William Baldwin-Charles		[phone]

Notes to Editors

Old Mutual

Old Mutual plc 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 plc 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. 

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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