Old Mutual Appoints Seelan Gobalsamy as MD of its Corporate Business Division

19 November 2008 Old Mutual

Seelan Gobalsamy (pictured) has been appointed as Managing Director of Old Mutual Corporate, effective 1 November 2008. Old Mutual Corporate provides investment, savings, risk management and administration products and services to the group’s corporate clients in South Africa.

Gobalsamy,previouslyExecutive General Manager responsible for Old Mutual’s Corporate Distribution, takes over fromTim Cumming, who assumes responsibility of several special projects within Old Mutual, including managing the future business developments strategy team.

While Gobalsamy says the tougher economic conditions expected over the next few years will present challenges for Old Mutual Corporate, he believes the business is well placed as investors look to strong, established companies to grow and protect their assets.

Old Mutual Corporate recently secured two major pensioner outsourcing deals totalling R1.4bn. “Deals such as these represent a huge vote of confidence for Old Mutual and the strength of our brand, especially in the current market conditions. Our clients and intermediaries trust us to deliver value as we have done in the past and will continue to do in the future,” says Gobalsamy.

Old Mutual South Africa MD, Paul Hanratty says Gobalsamy’s seven years experience at Old Mutual will stand him in good stead in driving synergies between the groups business segments and increasing market share.

In 2001, Gobalsamy joined Old Mutual as Chief Financial Officer of its Employee Benefits division. In 2004 he accepted the role of General Manager Administration. The highlight of this period was the launch of Old Mutual’s new Retirement Fund Administration capability, Mosaic.

During the course of 2005, Gobalsamy assumed responsibility for the entire Old Mutual Employee Benefits business, which included management of all the retirement fund administration functions, Group Assurance, Corporate Product Development, and Old Mutual Actuaries & Consulting (OMAC).

He was then appointed as Head of Corporate Distribution.In this role he was responsible for client relationship management for all Old Mutual Corporate clients, which included sales, retention and servicing of all investment, savings, risk management and administration products and services to the Corporate market.

Gobalsamy has a BComm and Post Graduate degree from Rhodes University, Grahamstown and as a qualified Chartered Accountant, obtained his Higher Diploma in Tax through UNISA.

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