Tom Turpin to leave Old Mutua

RNS Number : 5084S

Old Mutual PLC

10 September 2010

 

Ref 150/10

10 September 2010

Old Mutual plc

Tom Turpin to leave Old Mutual Asset Management

Old Mutual plc ("Old Mutual") announces that Tom Turpin, Chief Executive Officer of Old Mutual Asset Management has decided to leave the business to pursue other opportunities.

Mr Turpin has led Old Mutual's asset management business as CEO through its continued development over the past two years and leaves the business well positioned as a leading asset manager. With the announcement of our intention to instigate a partial initial public offering, Tom has decided that it is the right time to pursue other professional and personal interests.

Old Mutual wishes to thank Mr Turpin for his significant contributions over the eight years that he has worked at Old Mutual.

Mr Turpin will hand over day-to-day operating responsibility to Chief Operating Officer Linda Gibson who will take on the additional role of Interim CEO as we commence a search for a new CEO. Ms Gibson will report directly to Julian Roberts, Group Chief Executive of Old Mutual until a successor is found.

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.

 

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