New Appointment to the Old Mutual Group Executive

RNS Number : 0312S

Old Mutual PLC

14 March 2016

 

Old Mutual plc

Ref 193/16

14 March 2016

NEW APPOINTMENT TO THE OLD MUTUAL GROUP EXECUTIVE

Further to the Company's announcement on 11 March 2016 regarding the new strategic direction of Old Mutual plc ("Old Mutual" or "the Group"), Bruce Hemphill, Group Chief Executive, announces today a key appointment to his executive management team.

Rob Leith will join the Group Executive Committee as Director of Managed Separation, responsible for the coordinated execution of the managed separation.  He will work in partnership with the Group Finance Director, Ingrid Johnson and Group Strategy Director, Ian Gladman to deliver the new strategy. 

Rob joins from a private investment company where he has been since September 2014.  Prior to that, he was Global Head of Investment Banking and Global Markets of Sberbank CIB. He joined Sberbank CIB in January 2012 from Standard Bank, where he had served for over 20 years in the UK, latterly as Head of Group Strategic Development and Chief Executive of Global Corporate and Investment Banking.

Bruce Hemphill said: "I am delighted that Rob has agreed to join the team. He brings commercial wisdom to the complex interrelated set of decisions which will be required as we execute the managed separation."

Rob Leith said: "I am excited to join Old Mutual as it moves into this next important phase of its evolution.  Old Mutual has four very strong businesses with excellent competitive positions in sizeable markets.  I look forward to working with the businesses to unlock shareholder value."

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Sizwe Ndlovu                             SA        [phone]

Media

William Baldwin-Charles                         [phone]

                                                            [phone]

Notes to Editors

Old Mutual provides investment, savings, insurance and banking services to 18.9 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2015, the Group reported adjusted operating profit before tax of £1.7 billion (on an IFRS basis) and had £304 billion of funds under management from core operations (excluding Rogge).

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

About Rob Leith

Rob Leith, aged 53, joins from a private investment company where he has been since September 2014.  Prior to that, he was Global Head of Investment Banking and Global Markets of Sberbank CIB.

He joined Sberbank CIB (known as Troika Dialog until October 2012) in January 2012 from its former shareholder, Standard Bank, where he was Head of Group Strategic Development and Chief Executive of Global Corporate and Investment Banking. Mr Leith joined Standard Bank in 1991 and played a key role in the development of the group's business outside South Africa, both organically and through acquisitions. Mr Leith was educated at the University of Cape Town.  He has dual nationality of the UK and South Africa.

 

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