for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Banks

Old Mutual hires executive to manage split

Workers clean windows outside the Cape Town headquarters of Anglo-South African financial services company Old Mutual, March 7, 2016. REUTERS/Mike Hutchings

(Reuters) - Old Mutual Plc OML.L, which said last week it would split into its four main businesses and may list its emerging market and wealth management arms, appointed Rob Leith as director of managed separation.

The Anglo-South African financial services company said Leith would be responsible for the “coordinated execution of the managed separation” and would work with its finance director and strategy director.

Leith joins Old Mutual from a private investment company.

Regulatory changes in Europe and South Africa have made the Old Mutual, which started out in 1845 as a life insurance firm in Cape Town, more complex to run in its current form, it said on Friday.

Reporting by Noor Zainab Hussain in Bengaluru

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up