Appointment of CEO Life & Savings segment
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
JSE Share Code: OMLI
LSE Share Code: OMU
MSE Share Code: OMU
NSX Share Code: OMM
ZSE Share Code: OMU
("Old Mutual")
Ref: 23/25
07 July 2025
APPOINTMENT OF PRABASHINI MOODLEY AS CHIEF EXECUTIVE OFFICER OF NEW LIFE & SAVINGS SEGMENT AND SHIFT OF EXECUTIVE OVERSIGHT OF OLD MUTUAL FINANCE AND OLD MUTUAL TRANSACTION SERVICES TO OM BANK CEO CLARENCE NETHENGWE
Shareholders are hereby notified of the appointment of Ms Prabashini Moodley as Chief Executive Officer (CEO) of Old Mutual's newly configured Life and Savings segment, effective 1 August 2025. Prabashini will report directly to the Group CEO, Jurie Strydom. The Life and Savings segment will consist of four business units namely, Personal Finance, Old Mutual Wealth Management, Old Mutual Corporate, and the Mass and Foundation Cluster (MFC) - excluding banking. The Managing Directors of these business units will report to Prabashini.
The formation of the Life and Savings segment will ultimately enable more effective delivery to customers and intermediaries in South Africa and greater leveraging of the benefits of scale efficiencies in key areas.
Prabashini is currently the Managing Director of Old Mutual Corporate and has enjoyed a long and successful career at Old Mutual. She joined the Group in 2002 and qualified as an actuary shortly thereafter. Prabashini also holds a Global Executive MBA from IESE Business School and has served in various roles across Personal Finance, Old Mutual Investment Group, and the MFC, including four years as the MFC's Chief Financial Officer. Her international experience includes a tenure at Skandia México, where she established and led a customer segment business.
Old Mutual Group CEO Jurie Strydom said: "I want to congratulate Prabashini on her well-deserved appointment. I am confident that Prabashini will bring the clarity, energy, and accountability needed to lead her team and create value across these business units. In addition, the shift of Old Mutual Finance and Old Mutual Transaction Services to fall under the executive oversight of OM Bank CEO Clarence Nethengwe, marks a strategic step in aligning Old Mutual's banking operations in South Africa as we prepare for the launch of OM Bank."
These changes reflect Old Mutual's continued commitment to enhancing organisational effectiveness, driving operational efficiency, and delivering sustainable value to customers and all stakeholders.
Sandton
07 July 2025
Sponsors
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JSE |
Equity Sponsor: Tamela Holdings (Proprietary) Limited |
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Debt Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited |
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Namibia |
PSG Wealth Management (Namibia) (Proprietary) Limited |
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Zimbabwe |
Imara Capital Zimbabwe plc |
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Malawi |
Stockbrokers Malawi Limited |
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Enquiries
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Investor Relations |
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Langa Manqele |
M: +27 82 295 9840 |
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Head of Investor Relations |
E: investorrelations@oldmutual.com |
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Communications |
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Wendy Tlou |
M: +27 82 906 5008 |
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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 180 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
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