Directorate Change

RNS Number : 9625U

Old Mutual PLC

02 July 2009

 

Ref 46/09

2 July 2009

OLD MUTUAL APPOINTS MIKE ARNOLD AS A NON-EXECUTIVE DIRECTOR

Old Mutual plc ('Old Mutual') is pleased to announce that Mike Arnold, 61, will be joining its Board as an independent non-executive director with effect from 1 September 2009.  Mr Arnold will also become a member of the Group Audit and Risk Committee.

Mr Arnold has been a consulting actuary with Milliman since 1971. He was Senior Partner from 1995 to 2002 and subsequently Principal Consulting Actuary and Head of its Life practice in London.  He plans to step down from Milliman when his current commitments are completed. His extensive experience includes acting as an independent expert for UK life assurance companies and providing actuarial advice to international insurance groups. He is a member of the UK Board of Actuarial Standards. 

Chairman of Old Mutual, Chris Collins, said:

'We are very pleased that Mike has agreed to join the Old Mutual board. His technical expertise and knowledge of our industry will provide us with a valuable additional resource.'

Mike Arnold commented:

'I am delighted to have been invited to join the Board of Old Mutual at such an interesting time in the Group's development.'

Pursuant to Listing Rule 9.6.13 (1), Mr Arnold has held no directorships in publicly quoted companies during the past five years, although he has held directorships of a number of private companies and of a mutual life company.

Old Mutual also confirms that there are no matters relating to Mr Arnold that would require disclosure under Listing Rules 9.6.13 (2) to (6). Mr Arnold currently has a beneficial interest in 12,725 Old Mutual shares through a portfolio that is managed for him on a discretionary basis by a third party.

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

Enquiries

Investor Relations
Patrick Bowes	UK	[phone]
Aleida White	UK	[phone]
Deward Serfontein	SA	[phone]
Media
Matthew Gregorowski	UK / SA	[phone]
		[phone]
Don Hunter (Finsbury)	UK	[phone]

Notes to Editors

Old Mutual

Old Mutual plc is a leading international long-term savings Group.  Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance in over 40 countries 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 2008, the Group reported adjusted operating profit of £1.0 billion (on an IFRS basis) and had £265 billion of funds under management at the year end. The Group has approximately 57,000 employees.

 

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