Old Mutual Limited
Incorporated in the Republic of
South Africa
Registration number:
2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
JSE Alpha Code: OMLI
LSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
("Old
Mutual" or "Group")
Ref: 03/25
25 February 2025
CHANGE IN OLD MUTUAL DIRECTORATE AND APPOINTMENT OF OM BANK
BOARD CHAIRMAN
In compliance with paragraph 3.59 of
the JSE Listings Requirements, Old Mutual announces the appointment
of Ms Nomkhita Nqweni as Chairman of the OM Bank Limited
("OM Bank") Board, and
consequently, her resignation as independent non-executive director
of Old Mutual, with effect from close of business on 24 February
2025. This follows the approval by the South African Reserve Bank's
Prudential Authority of the OM Bank Board as well as key members of
its executive leadership.
Speaking on behalf of the Old Mutual
Board, Chairman Trevor Manuel said: "We would like to express our
deepest appreciation for Ms Nqweni's invaluable contribution during
her tenure as member of the Old Mutual Board. We further
congratulate her on her appointment and wish her well in her new
role as Chairman of the OM Bank Board."
Ms Nqweni has a wealth of financial
services industry experience having worked at Alexander Forbes as
well as serving as chief executive officer of Absa's Wealth and
Investments division from 2010 to 2019 and serving on the Barclays
Wealth EMEA EXCO.
At 50, Ms Nqweni is among the
youngest black female directors to chair a bank in South Africa and
will be supported by the following members of the OM Bank
Board:
· Juma
Arogo
· Peter
de Beyer
· Amal
Desai
· Albert
Essien
· Rob
Leathers
· Melvyn
Lubega
· Arina
McDonald
· Clarence Nethengwe
·
Casper Troskie
·
Iain Williamson
Clarence Nethengwe, CEO of OM Bank
and executive director, will be supported by the following
executives:
· Chief
Financial Officer: Amal Desai
· Chief
Compliance Officer: Pheona Härtel
· Chief
Technology & Data Officer: Suvania Moodliar
· Chief
Risk Officer: Lushendren Pather (starting 1 June 2025)
· Chief
Information Officer: Ray Deftereos
· Chief
People Experience Officer: Nomaswazi Ngwane
· Chief
Operating Officer: Pauline Molloyi (acting)
· Chief
Legal Counsel: Athena Pavlakis
Manuel continued saying: "The formal
approval of the OM Bank Board and key executive leadership will
give further momentum to the establishment of OM Bank and embed the
Group's long-term competitive advantage and strategic choice of
building an Integrated Financial Services business."
Sandton
Sponsors
|
JSE
|
Equity Sponsor: Tamela Holdings
(Proprietary) Limited
Debt Sponsor: Nedbank Corporate and
Investment Banking, a division of Nedbank
Limited
|
|
Namibia
|
PSG Wealth Management (Namibia)
(Proprietary) Limited
|
|
Zimbabwe
|
Imara Capital Zimbabwe
plc
|
|
Malawi
|
Stockbrokers Malawi
Limited
|
|
Enquiries
Investor Relations
|
|
|
Langa Manqele
Head of Investor
Relations
|
M: +27 82 295
9840
E:
investorrelations@oldmutual.com
|
|
Communications
|
|
|
Wendy Tlou
Chief Communications and Reputation
Officer
|
M: +27 82 906 5008
E:
oldmutualnews@oldmutual.com
|
Notes to Editors
About Old Mutual
Old Mutual is a premium African
financial services group that offers a broad spectrum of financial
solutions to retail and corporate customers across key market
segments in 12 countries. Old Mutual's primary operations are in
Africa and it has a niche business in China. With over 179 years of
heritage across sub-Saharan Africa, Old Mutual is a crucial part of
the communities it serves as well as broader society on the
continent.
For further information on Old
Mutual and its underlying businesses, please visit the Corporate
website at www.oldmutual.com
