– UK – Old Mutual plc is pleased to announce the appointment of Ingrid Johnson as Group Finance Director with effect from 1 July 2014. She will succeed Philip Broadley who will remain an Executive Director to ensure an effective transition until 31st August 2014.
Ingrid Johnson is currently the Group Managing Executive: Retail and Business Banking for Nedbank Group Limited. She was responsible for the strategic repositioning of these businesses since August 2009. She has held business leadership roles in Nedbank for 20 years and is a chartered accountant, having trained at Price Waterhouse. She will join the Old Mutual Board as an Executive Director and also become a member of the Group Executive.
Old Mutual also announces today the appointment of Paul Hanratty as Chief Operating Officer, in which capacity he will become an Executive Director of the Company from 1 July 2014 and will continue to be a member of the Group Executive.
Julian Roberts, Group Chief Executive, commented: “I am delighted that we are able to appoint two such high calibre individuals to the Old Mutual Board. Ingrid will bring an in-depth knowledge of banking and the wider South African financial services environment, while Paul has a wealth of experience in the Group’s insurance and investment businesses and an exceptional understanding of the markets in which we operate.
“With these appointments, the Board is well placed to address the further development of Group strategy.
“I would like to pay tribute to Philip Broadley for all that he has achieved since he joined us in November 2008, at the height of the financial crisis. Under his expert stewardship, the Group today is a much more resilient business able to focus on meeting our customers’ financial goals.”
About Old Mutual
Old Mutual provides life assurance, asset management, banking and general insurance to more than 16 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.
Nedbank Group Limited is a subsidiary of the Old Mutual Group.
In the year ended 31 December 2013, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £294 billion of funds under management from core operations.
About Ingrid Johnson
Ingrid Johnson (age 47) has 20 years broad based financial services experience with the Nedbank Group in both line and financial roles. She was appointed to the Nedbank Group Executive Committee in 2008 and is a Prescribed Officer of the Group. Her current responsibility is Group Managing Executive: Retail and Business Banking – 2013 Revenues £1.6b; Pre-Tax Earnings £318m and over 20,500 employees. She assumed this role in August 2009, taking responsibility for the Retail Banking Cluster and managing the integration of Imperial Bank, in addition to retaining her role of leading the commercial cluster Business Banking, since 2005. In 2004 Ingrid was appointed to the role of Managing Executive Corporate Banking following experience gained in line management, balance sheet management and leading the foreign currency financing operations in several off-shore jurisdictions. Ingrid qualified as a chartered accountant in 1993 having served her articles with Price Waterhouse and completed the Advanced Management Programme at Harvard Business School in 2005.
About Paul Hanratty
Paul Hanratty (age 52) was appointed Group Operating Officer in 2013. Has was CEO of Long Term Savings and Chairman of Old Mutual South Africa (OMSA) from September 2009. Paul started with OMSA in 1984 and joined the Board of the OMSA life business in 2003 and became Managing Director of OMSA in 2006. He held a number of other roles including Head of Product Development, General Manager Finance & Actuarial, Executive General Manager Individual Life and Head of the Retail Business. He is a fellow of the Institute of Actuaries.
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