Old Mutual South Africa announces changes to top management structure

Old Mutual South Africa (OMSA) has announced a number of changes to its top management structure to further enhance synergies between OMSA’s retail and corporate business segments.
The first of these changes sees Seelan Gobalsamy appointed as Managing Director of Old Mutual Corporate. Old Mutual Corporate provides investment, savings, risk management and administration products and services to the group’s corporate clients in South Africa.

Gobalsamy, who was the Executive General Manager at Old Mutual Corporate, takes over from Tim Cumming, who assumes responsibility for several special projects within Old Mutual, including managing the future business developments strategy team. Gobalsamy joined the group in 2001 and his previous experience includes managing Old Mutual's Employee Benefits business with all the retirement fund administration functions and the divisions of Group Assurance, Corporate Product Development and Old Mutual Actuaries & Consulting (OMAC).
Another change is the appointment of Ralph Mupita as the Managing Director of Retail Affluent to drive the growth of Old Mutual in the affluent segment which includes the distribution of its solutions through the tied adviser force, broker networks, independent and bank brokers. Mupita joined Old Mutual in 2001 and was previously head of Old Mutual Unit Trusts and strategy director, and more recently led the development of several new businesses within OMSA as Director of New Ventures.

Mupita takes over the reins from Mike Harper, who now assumes the position of Managing Director of Customer Solutions. Harper’s new role encompasses Product Solutions, Retail Affluent and Corporate segments at Old Mutual South Africa. Harper joined the Old Mutual Group in 1979 and held various management positions in addition to spearheading specific start-up and new initiatives for the Group. Both Gobalsamy and Mupita report to Harper.

Also effective from November, is the appointment of Crispin Sonn to the executive committee as Director of Corporate Affairs, Media & Marketing following the retirement of Peter de Beyer. Sonn joined Old Mutual in March 2003 after conducting a range of entrepreneurial ventures which won him the Cape Times Editor’s Award for Entrepreneurship. He will continue to head up the tied adviser force in the Retail Affluent segment until the end of 2008 when Raimund Snyders (currently Chief Executive of the Old Mutual Life Assurance Company in Namibia) will take o­n this distribution management function.

OMSA MD, Paul Hanratty says this new structure will enable the savings and investment group to drive synergies between its customer segments and increase market share. “In the past, there has been a tendency for our customer segments to operate rather independently of o­ne another. This new structure will ensure there is a cohesive and co-ordinated approach between our retail and corporate divisions that will continue to drive the strong and dynamic delivery of our solutions to our wide customer base in South Africa.”