Changes to the ExecutiveCommi

RNS Number : 9131K

Old Mutual PLC

28 April 2010

 



Ref 31/10

28 April 2010

CHANGES TO THE EXECUTIVE COMMITTEE OF WEALTH MANAGEMENT

Old Mutual plc's Wealth Management business unit today announces a change in its management team as Nick Poyntz-Wright steps down as CEO of its UK business.  He will remain with the Group until July 2010.

From 1 May 2010, Peter Mann will take on the role as CEO for the UK business, subject to regulatory approval.  Peter is currently Chief Development Officer and he already has day to day responsibility for sales and distribution, e-commerce and marketing.

Bob Head, CEO of Old Mutual Wealth Management, commented, "We are delighted to appoint Peter to this senior role in the UK business and welcome his sales and operational insights as he joins the senior management team of Wealth Management.  We thank Nick for his many years of stewardship of the UK business."

Nick Poyntz-Wright commented, "I am pleased to see Peter take over the UK business and have seen what tremendous drive and energy he brings to the operation in the 8 years during which we have worked together.  Peter has the right skills to oversee the transformation of the UK business in the future."

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

Enquiries

External Communications
Patrick Bowes	UK	[phone]
Investor Relations
Deward Serfontein	SA	[phone]
Aleida White	UK	[phone]
Media
Don Hunter (Finsbury)	UK	[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 in Europe, the Americas, Africa and Asia.  Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.

In the year ended 31 December 2009, the Group reported adjusted operating profit before tax of £1.2 billion (on an IFRS basis) and had £285 billion of funds under management at the year end.  The Group has approximately 54,000 employees.

Wealth Management

In the year ended 31 December 2009, Wealth Management reported adjusted operating profit before tax of £106 million (on an IFRS basis) and had £46.9 billion of funds under management at the year end.  At the 2009 year end,Wealth Management employed 3,000 people.

Peter Mann - background

Peter first joined Skandia in 2002 through Bankhall Investment Management at the point at which it was acquired by Skandia.  Prior to that, he had an extensive history of sales and management experience at Royal Life, Scottish Amicable, Aitchison & Colegrove and Prudential.

 

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