Old Mutual South Africa Appoints Diane Radley as New Finance Director

22 January 2008 Old Mutual South Africa

Old Mutual South Africa (OMSA) has strengthened its senior management team with the appointment of Diane Radley as group finance director effective 1 March. Radley succeeds Peter Golesworthy, who resigned from the financial services provider last year.

Radley joins Old Mutual from Altron where she held the position of Chief Financial Officer. Prior to Altron, Radley was Partner in Charge of Transaction Services at PricewaterhouseCoopers and has also served as a non-executive director and chairperson of the audit committee at Women Investment Portfolio Holdings Limited (Wiphold). She is currently a non executive director and chairperson of the audit committee of Omnia Holdings Limited.

"Diane is o­ne of the most respected and experienced finance people in South Africa and we are delighted to appoint somebody of her calibre and experience," says Paul Hanratty, MD of OMSA. "Her challenge will be to help transform OMSA from a life insurer to SA's leading wealth manager. Old Mutual is currently undergoing huge changes to improve customer service in addition to focusing o­n wealth management."

Old Mutual Life Assurance Company of South Africa (OMLACSA) Board

Old Mutual announced three new appointments to the OMLACSA board. Radley, along with Old Mutual Investment Group South Africa (OMIGSA) CEO Thabo Dloti, will join the board as executive directors effective 1 March and 14 February 2008 respectively. Ian Goldin, Vice President of the World Bank Group from 2003 to 2006 and a former CEO of the Development Bank of Southern Africa, has been appointed as an independent director effective 14 February 2008.

Commenting o­n the OMLACSA board appointments, Old Mutual plc CEO Jim Sutcliffe says each of these individuals brings their own skills set and experience to the table.

"Ian has a proven track record in financial sector leadership, with top management experience in complex financial organisations. He has extensive corporate governance experience as a Director, including in a wide range of non-executive Board roles."

Of Dloti's appointment, Sutcliffe says; "As CEO of OMIGSA, Thabo fulfills a key role in the group's strategy of developing as a premier international wealth manager. His time spent working in various divisions within Old Mutual provides him with a valuable understanding of the group."

Sutcliffe also comments that; "As the new OMSA finance director, Diane's appointment to the OMLACSA board is significant as it reflects the importance that we place o­n the role of finance director within the organization."

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