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Old Mutual Plc - Old Mutual appoints Group Director for Southern Africa
Old Mutual Plc
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Old Mutual plc Appoints Group Director for Southern Africa
Old Mutual plc is pleased to announce the appointment of Bob Head (47) as Group
Director, Southern Africa. Head, who is currently Old Mutual plc Group Human
Resources and Strategy Director, will take up his new appointment on 3 October
2005.
Head will be responsible for all Old Mutual plc interests in South Africa and
elsewhere in Africa. He will become a non-executive director of Old Mutual Life
Assurance Company (South Africa). Head is currently and will remain a non-
executive director of Nedbank and Mutual & Federal.
His appointment arises from the Old Mutual Group"s strategy of aligning its
three South African businesses - Old Mutual South Africa, Nedbank and Mutual &
Federal - more closely, leveraging their major market positions and leading
brand strengths through closer co-operation in the markets they serve.
Together, Old Mutual"s South African businesses employ 37,500 people who serve
roughly 6 million clients.
Head brings with him a wealth of experience gained from leadership positions at
innovative, energetic and customer focused financial services companies in the
UK.
In the three years prior to joining Old Mutual in February 2003, Head was CEO of
smile.co.uk, one of the most highly rated online banks in the UK. Between 1995
and 2000, he was Finance, Investment and Treasury Director at egg.com - the
world"s largest pure online bank with over 3.6 million customers. Prior to that
he spent five years as a director of the International Division of the
Prudential, one of the world"s leading international financial services groups.
Head was Acting Finance Director for Nedbank in early 2004 before successfully
co-ordinating the black economic empowerment ownership initiatives of the Old
Mutual Group in South Africa announced in April this year.
Old Mutual Chief Executive, Jim Sutcliffe, says that in addition to Head"s long
and successful business track record, he has a deep understanding of the Group"s
South African businesses and a passion for the country.
"This combination will be particularly valuable to us as we seek to exploit the
synergies and opportunities for cross marketing within our key Old Mutual,
Nedbank and Mutual & Federal brands and create value from our recent BEE
transaction," says Sutcliffe.
29 September 2005
ENQUIRIES:
Old Mutual plc UK
Miranda Bellord +44 (0) 20 7002 7133
Old Mutual plc SA
Nad Pillay +27 (0) 21 504 8026
For further information about Old Mutual plc visit www.oldmutual.com
Date: 29/09/2005 09:30:18 AM Produced by the JSE SENS Department
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