Directorate Change

RNS Number : 5561V

Old Mutual PLC

03 November 2010

 



Ref 162/10

Old Mutual plc

3 November 2010

 

OLD MUTUAL APPOINTS ALAN GILLESPIE AS A NON-EXECUTIVE DIRECTOR

Old Mutual plc ("Old Mutual") is pleased to announce that Alan Gillespie has agreed to join its Board as an independent non-executive director with effect from 3 November 2010. Mr Gillespie will also become a member of the Group Audit, Nomination and Remuneration Committees.  In addition, he has been selected to succeed Rudi Bogni as the Senior Independent Director when Mr Bogni retires at the Company's AGM in May 2011.

Mr Gillespie's background is in financial services and banking, having been a partner and Managing Director of Goldman Sachs & Co in London from 1986 to 1999 and Chairman of Ulster Bank Group from 2001 to 2008.  Further details of his background are contained in the Notes to Editors below.

The Chairman of Old Mutual, Patrick O'Sullivan, said:

"We are very pleased to have been able to recruit Alan Gillespie to our Board.  His appointment is an important part of our rolling programme to renew and refresh the Board's capabilities."

Alan Gillespie commented:

"I am delighted to have been invited to join the Board of Old Mutual and look forward to contributing to the successful accomplishment of its strategic objectives."

Pursuant to Listing Rule 9.6.13 (1), details of directorships held by Mr Gillespie in publicly quoted companies during the past five years are set out below:

United Business Media Limited (Senior Independent Director)

Old Mutual confirms that there are no matters relating to Mr Gillespie that would require disclosure under Listing Rules 9.6.13 (2) to (6).   Mr Gillespie does not currently have any beneficial interests in shares in Old Mutual or in its separately listed subsidiary, Nedbank Group Limited.

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

Alan Gillespie

Dr Alan Gillespie, CBE, who is 60 years old, has had a long and successful career in international banking and financial services.  His international banking career began at Citibank, where he spent 10 years from 1976 to 1986, with assignments in London and Geneva.  He joined Goldman Sachs in New York in 1986 and was made a partner of the firm in 1990, with responsibility for corporate finance and mergers and acquisitions in the UK and Ireland.  He then jointly led the firm's financial services practice in Europe. In 1996, he established Goldman Sachs' operation in South Africa.

After retiring from Goldman Sachs in 1999, he took on a public sector role for the UK Government as Chief Executive of the Commonwealth Development Corporation, subsequently renamed CDC Group plc.  In 2001 he became Chairman of Ulster Bank, a subsidiary of Royal Bank of Scotland plc, but separately managed and with an independent board.  In 2008, it was announced that he would become Chairman of Alliance & Leicester Plc: however, shortly afterwards Banco Santander acquired the business.

Among other positions currently held by Dr Gillespie are Senior Independent Director of United Business Media Limited, Chairman of the Economic and Social Research Council and Chairman of The International Finance Facility for Immunization (a $6 billion development finance initiative linked to GAVI, Geneva promoted by the UK Government and co-funded by France, Spain, Italy, Norway, the Netherlands, Sweden and South Africa).

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.

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

 

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