Old Mutual announces Albert Essien as upcoming Non-Executive Director of Old Mutual Emerging Markets and Old Mutual Africa

– UK, London – Old Mutual plc is delighted to announce that Albert Essien has agreed to join the Boards of Old Mutual Emerging Markets and Old Mutual Africa as a Non-Executive Director, effective 1 October 2015.

Albert recently retired as Group Chief Executive Officer of Ecobank Group, the largest independent pan-African banking institution, having served in this capacity since March 2014, and after 25 years with the Ecobank Group. He has held several senior positions including Deputy Group Chief Executive Officer, in addition to serving as Group Executive Director for Corporate Bank & Investment Bank.

Paul Hanratty, Chairman of Old Mutual Emerging Markets and Group Chief Operating Officer, said: “Old Mutual Group has a long-standing relationship with Albert. I am delighted that he has agreed to join us in a non-executive capacity to provide his guidance as we continue our progress in building an African financial services champion. He brings to us rich technical and cultural expertise and capabilities, which are increasingly important to our successful long-term investment in the various sub-Saharan markets.”

Ralph Mupita, Chief Executive Officer of Old Mutual Emerging Markets, said: “Albert’s experience provides us with important additional skill sets in our expansion programme. With the benefit of his broad knowledge of the markets in which he has operated, he can help us proceed with appropriate respect and sensitivity. I look forward to working with him in his new role.”

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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