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OLD MUTUAL PLC - Old Mutual appoints Peter Moyo as New Chief Executive of Old Mutual Emerging Markets

Release Date: 03/04/2017 15:25
Code(s): OML     PDF:  
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Old Mutual appoints Peter Moyo as New Chief Executive of Old Mutual Emerging Markets

   OLD MUTUAL PLC
   ISIN CODE: GB00B77J0862
   JSE SHARE CODE: OML
   NSX SHARE CODE: OLM
   ISSUER CODE: OLOMOL
   Old Mutual plc

   Ref 63/17
   3 April 2017


   OLD MUTUAL APPOINTS PETER MOYO AS NEW CHIEF EXECUTIVE OF OLD MUTUAL
   EMERGING MARKETS

   Old Mutual plc is pleased to announce the appointment of Peter Moyo as Chief Executive Officer
   (“CEO”) of Old Mutual Emerging Markets (“OMEM”). Peter will take up his new position on 1 June
   2017.

   Peter has deep financial services experience, having been CEO of Alexander Forbes from 2005 to
   2008 and prior to that Deputy Managing Director of Old Mutual South Africa from 2000 to 2005,
   having joined as divisional manager in 1997. He is currently the non-executive Chairman of Vodacom
   Group, a leading African communications company, on the Board of Liberty Holdings and CEO of
   NMT Capital. He joined EY in 1991 and was appointed partner in 1994.

   Following the resignation of the previous CEO of OMEM on 31 October 2016, Old Mutual launched an
   extensive process to identify the right successor, with members of the Boards of Old Mutual plc and
   OMEM as part of the selection committee.

   Trevor Manuel, Chairman of OMEM, said: “I am delighted that Peter has agreed to join OMEM as
   CEO and I am looking forward to us building a close partnership. Peter is a vastly experienced
   executive, with deep listed company experience and excellent insights into OMEM. Importantly, he is
   not afraid of asking tough questions and challenging the status quo, which will be hugely valuable
   during this critical period for the business as we prepare for a listing.”

   Bruce Hemphill, Chief Executive of Old Mutual plc, said: “Peter, with his strong operational experience
   and extensive knowledge of the business, will be a great complement to Trevor’s broad strategic and
   governance expertise. While Peter has great knowledge of Old Mutual, he will also bring a fresh
   perspective gained from his broader corporate experience. I am confident that in Trevor and Peter we
   have the right team to lead OMEM to its listing and beyond. I would also like to take this opportunity to
   thank Iain Williamson for doing an excellent job as interim CEO.”

   Peter Moyo said: “I am looking forward to leading OMEM during this exciting and important time. I am
   returning to a business which I admire and I am very excited about working closely with Trevor
   Manuel and the rest of the leadership team to shape the future of OMEM.”


       Enquiries
       External communications
       Patrick Bowes                         UK     +44 20 7002 7440
       Investor relations
       Dominic Lagan                         UK     +44 20 7002 7190
       Sizwe Ndlovu                          SA      +27 11 217 1163

       Media
       William Baldwin-Charles                       +44 20 7002 7133
                                                     +44 7834 524833


       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd

       Joint Sponsor:
       Nedbank Corporate and Investment Banking


       Notes to Editors
       Old Mutual provides investment, savings, insurance and banking services to 19.4 million customers in Africa, the
       Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and
       Johannesburg Stock Exchanges, among others, since 1999.

       Old Mutual is executing its strategy of managed separation, which will entail separating its four businesses into
       standalone entities. The four businesses are:

       Old Mutual Emerging Markets: an attractive business with a dominant position in South Africa, well-placed to
       capitalise on sub-Saharan African growth as a diversified financial services provider with strong operations in key
       East and West African markets.

       Nedbank: one of South Africa’s four largest banks with very strong corporate, commercial and property finance
       franchises, and a growth opportunity in the retail market, as well as pan-African optionality through its stake in
       Ecobank Transnational Inc (ETI).

       Old Mutual Wealth: a leading, integrated wealth management business, focused on the UK upper and middle
       market, with strong prospects in a rapidly growing £3 trillion market.

       OM Asset Management: an institutionally focussed, multi-boutique asset management business, delivering
       strong, diversified growth in attractive asset classes through organic initiatives and acquisitions.

       For the year ended 31 December 2016, Old Mutual reported an adjusted operating profit before tax of £1.7 billion
       and had £395 billion of funds under management. For further information on Old Mutual plc and the underlying
       businesses, please visit the corporate website at www.oldmutualplc.com

       About Peter Moyo
       Peter Moyo, aged 54, is currently Director of NMT Capital, Chairman of Vodacom Group Ltd, a non-executive
       director of Liberty Group Ltd, and Chair of the Audit Committee of the South African Auditor General’s Office. He
       has previously held non-executive Board roles at Transnet Ltd and Telkom. From 2005 to 2008, he was Group
       Chief Executive Officer of Alexander Forbes. Prior to that, he was Deputy Managing Director of Old Mutual South
       Africa, from 2000 to 2005, having joined Old Mutual South Africa in 1997. He was at EY from 1991 to 1997, and
       was made partner in 1994. He began his career at KPMG as an articled clerk.


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