Old Mutual happy on its new path after separation
CEO Peter Moyo says the business can now focus on growing value in optimal environments
With the sale of its Latin American business finalised earlier in April, Old Mutual is now set on a new path and positioned exactly where management wanted it to be when it initiated the managed separation process, says CEO Peter Moyo. Moyo, who has been at the helm for almost a year, told Business Day the company is well capitalised, having received the proceeds of the Latin American sale, but is going to focus for now on making its existing businesses more competitive. The sale of the Latin American operations, which included Old Mutual Colombia, Old Mutual Mexico and Latin American investment adviser Aiva, was completed on April 1. The company is now left with operations in 13 African countries and a joint venture in China, Old Mutual Guodian. It still has some exposure to London but Moyo said this is “very small”. “The business is today optimally set for what we’ve always wanted,” he said. “We are in the countries where we believe we know how to manage the exposure, how...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.