Old Mutual makes leadership changes
Financial services group Old Mutual has appointed Prabashini Moodley as CEO of its newly configured Life and Savings segment, effective August 1.
She will continue to report directly to group CEO Jurie Strydom.
The Life and Savings segment will comprise four business units, namely personal finance, Old Mutual wealth management, Old Mutual corporate and the mass and foundation cluster (MFC) – excluding banking.
The MDs of these business units will report to Moodley.
The formation of the Life and Savings segment is aimed at enabling more effective delivery to customers and intermediaries in South Africa and greater leveraging of the benefits of scale efficiencies in key areas.
Moodley is currently the Old Mutual Corporate MD and has enjoyed a long and successful career at the group.
She joined the group in 2002 and qualified as an actuary shortly thereafter.
Moodley 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 CFO of the MFC.
Her international experience includes a tenure at Skandia México, where she established and led a customer segment business.
“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,” Strydom says.
“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,” he informs.
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