| Tue 8 Feb 2011, 9:00 | | OML - Old Mutual Plc - Old Mutual Asset Management Appoints Peter L. Bain as |
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OML
OLOML
OML - Old Mutual Plc - Old Mutual Asset Management Appoints Peter L. Bain as
President and CEO
OLD MUTUAL plc
Issuer code: OLOML
JSE Share code: OML
NSX share code: OLM
ISIN: GB0007389926
Old Mutual Asset Management Appoints Peter L. Bain as President and CEO
Old Mutual Asset Management (OMAM), the US-based international asset management
business of Old Mutual plc, today announced the appointment of Peter L. Bain as
its new President and Chief Executive Officer.
Peter Bain brings significant experience in the investment management industry
and specific experience growing a multi-boutique investment organization. He
was previously Senior Executive Vice President for Legg Mason, where he worked
from 2000 to 2009, most recently serving as Head of Affiliate Management and
Corporate Strategy. Prior to joining Legg Mason, Peter Bain was an M&A banker
for Merrill Lynch & Co. and later for Berkshire Capital, where he advised
clients on acquisitions and other strategic transactions involving investment
management firms.
Commenting on the appointment, Julian Roberts, Group Chief Executive, said:
"This appointment is a key milestone for OMAM`s growth plans. I am delighted
that someone with Peter`s successful track record of growing a diversified
investment business has agreed to lead the company. We are confident that he has
the right qualifications and experience to drive OMAM`s success and growth
strategy."
Commenting on his appointment, Peter Bain said:
"I am very excited to be joining an organization with the breadth and diversity
of investment talent as OMAM. I believe strongly that the multi-boutique model
draws and retains exceptionally skilled investment professionals, and I look
forward to leading this talented group as it pursues its growth agenda."
Peter Bain will be based in Boston, the headquarters for OMAM, and will assume
the CEO position on February 22. Linda Gibson, the interim CEO for OMAM, will
resume her prior role as Chief Operating Officer.
Ends
Media Enquiries
Group Media Enquiries
William Baldwin-Charles UK +44 (0)20 7002 7133
OMAM Enquiries
Chris Herman US + 1 617 369 7306
Investor Relations
Deward Serfontein SA +27 (0)82 810 5672
Aleida White UK +44 (0)20 7002 7287
External Communications
Patrick Bowes UK + 44 (0)20 7002 7440
8 February 2011
Sponsor:
Merrill Lynch SA (Pty) Limited
Notes to Editors
About Old Mutual Asset Management
Old Mutual Asset Management (OMAM) is a global multi-boutique investment
organization, managing and growing a diverse portfolio of asset managers that
serve institutional and individual investors around the world. The assets under
management of OMAM`s 18 affiliated investment firms were $258 billion as of
September 30, 2010. OMAM is the firm through which Old Mutual (US) Holdings Inc.
conducts its U.S. asset management business. Its parent company is London-based
Old Mutual plc. More information on OMAM, its member firms, and their
investment teams and strategies, is available at www.oldmutualus.com
About Old Mutual plc
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
Johannesburg Stock Exchange, among others.
In the year ended 31 December 2009, the Group reported adjusted operating profit
before tax of GBP1.2 billion (on an IFRS basis) and had GBP285 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
Date: 08/02/2011 09:00:01 Produced by the JSE SENS Department.
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