Old Mutual poaches Standard Bank boss

Michael Bow
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LONDON-listed insurer Old Mutual yesterday named the successor to its sitting chief executive, picking an executive from Standard Bank to take the top job later this year.

Bruce Hemphill, currently the boss of Standard Bank’s wealth and insurance division, will replace current Old Mutual boss Julian Roberts in the fourth quarter of this year.

“Bruce will bring experience as a chief executive of a public company combined with an in-depth knowledge of investments, savings, insurance and banking,” chairman Patrick O’Sullivan said.

The FTSE 100 boss generates most of its revenues from Africa but remains headquartered and listed in London. It also has a secondary listing in South Africa.