Change to senior operational management role

RNS Number : 2030V

Old Mutual PLC

09 January 2012

 



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9 January 2012

Old Mutual appoints Ralph Mupita as Chief Executive of its Emerging Markets business

Old Mutual plc ("the Group") today announces that Ralph Mupita has been appointed Chief Executive of its Emerging Markets business following Kuseni Dlamini's decision to leave the company to pursue other business interests.

Ralph, who is currently Chief Executive of the Emerging Markets Life & Savings, will take up his new position on 1 February.

Paul Hanratty, Chief Executive of Old Mutual's Long Term Savings business, said: "I have no doubt that Kuseni will continue to contribute to South Africa's growth and prosperity as a business leader with a conscience and clear commitment to the country's global competitiveness agenda that he so passionately champions. Mr. Dlamini has continued to strengthen the business both in South Africa and other emerging markets and has put in place a strong leadership team and structure to lead the implementation of the OMEM strategic vision which he was very instrumental in developing. I am very pleased however to be able to appoint a replacement with the skills and expertise of Ralph and we are confident that he has the right expertise and experience to drive the Emerging Markets businesses growth."

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Enquiries

External Communications
Patrick Bowes		[phone]
Media
William Baldwin-Charles		[phone]

Notes to Editors

Old Mutual

Old Mutual 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 to more than 15 million customers in Europe, the Americas, Africa and Asia.  Old Mutual is listed on the London Stock Exchange and the Johannesburg Stock Exchange, among others.

In the year ended 31 December 2010, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £309 billion of funds under management from core operations, and shareholders' equity of £9.0 billion.

 

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