REG - Old Mutual Ltd - Change in Directorate and appointment to OM Bank

Old MutualAnnouncement

25/02/2025 14:30

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RNS Number : 4172Y  Old Mutual Limited  25 February 2025

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                                    M: +27 82 295 9840

 Head of Investor Relations                       E: investorrelations@oldmutual.com

 Communications
 Wendy Tlou                                      M: +27 82 906 5008

 Chief Communications and Reputation Officer     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 (http://www.oldmutual.com/)

 

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