Old Mutual announces leadership team to tackle emerging markets opportunities

9 March 2011 – Underscoring its quest to strengthen its market facing businesses off a solid South African base and achieve synergies across its businesses in emerging markets, Old Mutual Emerging Markets (OMEM) today announced changes to its operating model and organization structure.

Commenting on the changes, OMEM CEO Kuseni Dlamini said, ‘Increasingly our emerging market businesses- which include Old Mutual South Africa, the rest of Africa, Columbia and Mexico, India and China - are becoming a core contributor of value within the Old Mutual group of companies.Our emerging market ambitions are informed by our ability to leverage the strength of our capabilities in South Africa to expand across emerging markets. An exciting future awaits us and we need to gear up to be a leading financial services provider in selected emerging markets.’

The new structure is built around three pillars: life and savings business, asset management and administration. Changes have been made to the organization structure for the life and savings businesses, while asset management and administration remain unchanged. Diane Radley remains the CEO of the asset management business, Old Mutual Investment Group South Africa (OMIGSA) and Rose Keanly continues as MD: Old Mutual Service Technology Administration (OMSTA).

Marshall Rapiya has been appointed CEO of Old Mutual South Africa and will assume responsibility for the largest life and savings business in the Old Mutual Group.' South Africa remains a highly profitable market for the Old Mutual Group and we believe it also offers tremendous growth opportunities as the South African economy continues to grow and develop. Marshall has led the fastest growing segment of our South African business for many years and I am delighted to see him at the helm of the whole South African life and savings business,' said Dlamini.

Ralph Mupita has been appointed to the new role of CEO: Life and Savings where he will be responsible for all life and savings businesses across emerging markets, including South Africa, rest of Africa, Latin America and Asia.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.

Ralph Mupita has been appointed to the new role of CEO: Life and Savings where he will be responsible for all life and savings businesses across emerging markets, including South Africa, rest of Africa, Latin America and Asia.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.

The new structure is built around three pillars: life and savings business, asset management and administration. Changes have been made to the organization structure for the life and savings businesses, while asset management and administration remain unchanged. Diane Radley remains the CEO of the asset management business, Old Mutual Investment Group South Africa (OMIGSA) and Rose Keanly continues as MD: Old Mutual Service Technology Administration (OMSTA).

Marshall Rapiya has been appointed CEO of Old Mutual South Africa and will assume responsibility for the largest life and savings business in the Old Mutual Group.' South Africa remains a highly profitable market for the Old Mutual Group and we believe it also offers tremendous growth opportunities as the South African economy continues to grow and develop. Marshall has led the fastest growing segment of our South African business for many years and I am delighted to see him at the helm of the whole South African life and savings business,' said Dlamini.

Ralph Mupita has been appointed to the new role of CEO: Life and Savings where he will be responsible for all life and savings businesses across emerging markets, including South Africa, rest of Africa, Latin America and Asia.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.

Ralph Mupita has been appointed to the new role of CEO: Life and Savings where he will be responsible for all life and savings businesses across emerging markets, including South Africa, rest of Africa, Latin America and Asia.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.

Succeeding Mupita as the Managing Director of the Retail Affluent business is Iain Williamson who was previously General Manager: Finance and Actuarial in the business. Crispin Sonn, who previously headed up the Personal FinancialAdvice andPrivate Wealth unit and later headed up the Corporate Affairs, Marketing andCommunicationfunction,will succeed Rapiya as the Managing Director of the Mass Foundation cluster. Bongani Madikiza remains the Managing Director of Old Mutual Corporate.

Commented Dlamini, ‘The structure we have chosen allows for a distinct focus on growing our customer facing business in South Africa and across emerging markets as well as driving general execution through the regular support functions.

‘I want to congratulate the executive managers on their appointments as they will grow our franchise in South Africa and across emerging markets. We remain committed to achieving results for the benefit of our customers, shareholders, South Africa at large and the emerging markets where we operate. I am confident that the changes we are affecting will serve us well in fulfilling these ambitions,’ concluded Dlamini.