EMERGING MARKETS
Old Mutual division gets interim CEO
Insurer Old Mutual’s emerging markets division has appointed finance director Iain Williamson as its interim CEO, taking over from Ralph Mupita. Williamson will take charge of Old Mutual Emerging Markets (Omem) in January, holding the fort until a replacement is found for Mupita, who will assume a new post as MTN group chief financial officer in April. "I will be working closely with Iain and his management team as we get the emerging markets business ready for independence," Old Mutual CEO Bruce Hemphill said on announcing the appointment. Old Mutual Plc plans to list Omem by 2018. Williamson previously headed Old Mutual SA’s retail affluent segment, Omem’s largest profit contributor. Richard Hasson, a fund manager at Electus, said Williamson was "extremely capable" and had the experience to fulfil the acting CEO role. He said Williamson was the most likely candidate to take over from Mupita, but it would not be surprising if the insurer sought an external candidate with experience...
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