Mutual & Federal re-organises its executive team structure to maximise financial performance

Mark Weston.

Karen Miller.

Raimund Snyders.

Willem Smith.

Mutual & Federal is reorganising its executive team structure to enable full executive accountability for the financial performance of its business segments. Through this realignment, the organisation aims to build on its customer centricity through strat

The executive structure will be changing from being based solely on business functions to key
business segments – Personal Lines; Commercial & Africa; as well as its Corporate & Niche businesses. Each of these divisions will have their own distribution, product development, change management and underwriting capabilities supporting them. Support functions, such as HR, Finance and others will remain centralised, to ensure that cost synergies are maintained.

The Commercial & Africa segment will be headed up by Mark Weston, who joins from Nedbank, where he has most recently been responsible for Nedbank’s UK operations. Weston has been a member of the Executive Committee of Nedbank Capital since its formation in 2004 and prior to moving to the UK, held a number of executive roles in South Africa, including Chief Operating Officer of Nedbank Capital and Head of Investment Banking. He also has extensive experience across Africa, having managed a number of operations across the Continent. Leroy Munetsi, Executive: Africa & New Markets, will report into Mark given that Mutual & Federal’s Africa growth strategy is mainly commercial business driven, but continue to sit on the Executive Committee.

The Corporate & Niche segment will be headed up by Karen Miller. Miller joined Mutual & Federal as Executive: Underwriting in November 2011. In her new role, Miller will be responsible for diversifying Mutual & Federal’s risk exposures and capturing the growth opportunities in this segment. Miller comes with strong technical insurance skills, coupled with her extensive experience in the Risk Financing and specialist insurance sectors and has worked for organisations such as Zurich, Centriq and Investec Insurance Brokers.

The Personal Lines segment will be headed up by someone from within the Old Mutual Group and announcements will be made as soon as the process has been finalised. iWyze, led by Willem Smith, will report into the new segment executive. The other executive positions remain unchanged.

This new executive structure, which follows the announcement of new CEO Raimund Snyders, will also allow the organisation to extract more value from the Group as they endeavour to align to the Old Mutual and Nedbank structures.