– UK, London – Nedbank Group and Nedbank are pleased to announce the appointment of Mr Bruce Hemphill as a non-executive director of the Companies with effect from 25 November 2015.

Mr Hemphill, aged 52, was appointed as the Group Chief Executive of Old Mutual plc (Nedbank Group’s ultimate holding company) on 1 November 2015. From February 2014 to October 2015 he was Chief Executive of Wealth, Insurance and Non-Bank Financial Services at Standard Bank Group. Prior to that (June 2006 to February 2014) he was Chief Executive of Liberty Group, an African financial services group listed on the JSE, where he led Liberty on an extensive transformation and growth path while delivering significant value to shareholders.

Mr Vassi Naidoo, Nedbank Group Chairman, extended a warm welcome to Mr Hemphill and said: ‘The Nedbank Group Board will benefit greatly from Bruce’s experience as a chief executive of a public company and from his extensive experience and understanding of the South African and wider African financial services industry.’

Old Mutual provides investment, savings, insurance and banking services to more than 17 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.

In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 billion of funds under management from core operations.

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