| Fri 4 May 2007, 9:30 | | OML - Old Mutual Plc - Skandia Appoints New Nordic |
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OML
OLOML
OML - Old Mutual Plc - Skandia Appoints New Nordic CEO
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Skandia appoints new Nordic CEO
Skandia, a subsidiary of Old Mutual plc, today announces the appointment of
Bertil Hult as Chief Executive Officer of its Nordic division. Mr Hult
joins the Stockholm-based financial services company from Vinge, a Swedish
law firm, where he is currently CEO. He will report to Julian Roberts,
Chief Executive, Skandia, and will assume his role in early Autumn 2007.
Mr Hult will be responsible for Skandia`s entire portfolio of financial
services businesses in Sweden, Norway and Denmark. These include life
assurance, banking and private healthcare businesses.
Prior to joining Vinge, Mr Hult was Head of Asset Management & Private
Banking at Carnegie, an investment bank he joined in 1992. He also has
financial services experience from his previous roles at Handelsbanken,
Ovako, Swedish Match and Independent. Mr Hult has other current
directorships at pharmaceutical company Q-MED and the independent insurance
adviser Soderberg & Partners. He will be resigning from the latter prior to
assuming his position at Skandia.
Julian Roberts, Chief Executive of Skandia and Old Mutual Executive
Director for Europe, commented:
"Bertil brings with him a great wealth of experience in financial services
in the Nordic region and we are delighted to be welcoming him to Skandia.
We believe that his strong leadership will help maintain and build upon
Skandia`s market-leading position in Scandinavia. I and my Skandia
colleagues look forward to working with him."
Bertil Hult said:
"I have known Skandia well for many years, both as a client and as a
professional while I was head of Asset Management & Private Banking at
Carnegie. Skandia`s ability to deliver attractive returns to its customers
year after year is a testament to its strong brand and the hard work of its
employees. I am convinced that Skandia, now that it has access to Old
Mutual`s international network, will succeed in further advancing its
already strong position in the savings market."
4 May 2007
Sponsor
Merrill Lynch
Enquiries
Investor Relations
Malcolm Bell UK +44 (0)20 7002 7166
Deward Serfontein SA +27 (0)21 509 8709
Media
James Crampton UK +44 (0)20 7002 7133
Nad Pillay SA +27 (0)21 504 8026
Gunilla Svensson Skandia +46 8 788 4297
Notes to editors
About Bertil Hult
Bertil Hult was born in 1956 in Stockholm. He graduated from the Stockholm
School of Economics in 1981 and is an officer in the Swedish Navy reserves.
Over the next few years, Mr Hult was active in building up and developing
the treasury functions of multinational companies, working in the treasury
departments of Swedish Match and Ovako Steel.
Between 1987 and 1989, Bertil Hult was responsible for fixed-income
products at Handelsbanken in Stockholm. Following this, he returned to a
position as Head of Finance for the finance company Independent.
In 1992 the Nordic investment bank Carnegie recruited Mr Hult, initially as
assistant head of the Corporate Finance department. Between 1993-95, when
Carnegie`s ownership structure changed and Singer & Friedlander became
principal owners, he served as CFO, after which he took responsibility for
the newly formed Asset Management & Private Banking business. This business
unit comprised operations in Sweden, Norway, Denmark, Finland and
Luxembourg, and included asset management companies, fund companies,
insurance brokerages, unit-linked assurance companies and banking
operations. Mr Hult joined the executive management in 1993 and was one of
the principals responsible for Carnegie`s stock market introduction in
2001.
After nearly 12 years with Carnegie, Mr Hult left the firm in 2005 and
became the managing partner of the Swedish law firm Vinge. Vinge is a
market-leading firm focusing on mergers & acquisitions, stock market-
related transactions, and banking & finance.
Pictures of Mr Hult are available from Old Mutual Media Relations - +44
(0)20 7002 7367.
About Skandia Nordic
Headquartered in Stockholm, Skandia and its mutual subsidiary, Skandia Liv,
hold a leading position in the Swedish life assurance market measured by
new business, with a combined customer base of 1.9 million customers in
their Nordic operations. Skandia has been in the Swedish market for over
150 years and its business in Sweden offers a full set of financial
products. It also has a growing unit-linked and life business in Denmark,
as well as healthcare and banking. In Norway, it has a successful banking
operation and offers healthcare products.
At 31 December 2006, Skandia had funds under management of SEK 106 billion.
Skandia`s Nordic division is part of the Skandia Group, which also includes
Skandia UK & Offshore and Skandia Europe & Latin America.
For further information on Skandia, please visit www.skandia.com
About Old Mutual
Old Mutual plc is an international savings and wealth management company
based in the UK. Originating in South Africa in 1845, the group has a
balanced portfolio of businesses offering asset management, life assurance,
banking and general insurance services in over 40 countries, primarily
South Africa, Europe and the United States. Old Mutual is listed on the
London, Johannesburg and Stockholm stock exchanges, among others.
By conducting its business worldwide under its core values of integrity,
respect and accountability, Old Mutual aspires to push beyond boundaries to
drive value for all its stakeholders.
In the year ended 31 December 2006, the group reported an increase in
adjusted operating profit of 16% to GBP1.4 billion (IFRS basis). Old Mutual
had GBP239 billion of funds under management at 31 December 2006, and
53,000 employees.
For further information on Old Mutual plc, please visit the corporate
website at www.oldmutual.com
Date: 04/05/2007 09:30:01 Produced by the JSE SENS Department.
