New Managing Director for Mut

RNS Number : 1461Y

Old Mutual PLC

17 December 2010

 



Ref 184/10

17 December 2010

New Managing Director for Mutual & Federal

Mutual & Federal Insurance Company Limited (Mutual & Federal), the subsidiary of Old Mutual plc, today announced the appointment of Peter Todd as its new Managing Director.

Peter has a wealth of experience in the insurance industry and most recently was Managing Director of Absa Insurance and Financial Advisers.  Peter was responsible for distribution of all financial service products within Absa Financial Services and managed a multi-channel business that covered all customer segments from mass market to large companies.

Prior to joining Absa in 2007, Peter was the Regional Managing Director of Lockton Asia Pacific (formerly Alexander Forbes) where he was responsible for the Group's operations in eight countries in Asia-Pacific, and was previously Senior Vice-President Distribution and Major Accounts for AIG South Africa.

Commenting on the appointment, Julian Roberts, Group Chief Executive, said:

"I am delighted that someone with Peter's  broad operational skills and experience has agreed to join M&F. Peter will join a team who are dedicated to building the capabilities of Mutual & Federal within the Old Mutual Group."

Enquiries

External Communications
Patrick Bowes	UK	[phone]
Investor Relations
Deward Serfontein	SA	[phone]
Aleida White	UK	[phone]
Media
William Baldwin-Charles	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.

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

 

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