Old Mutual : Mike Ilsley appointed Chief Financial Officer of Old Mutual Emerging Markets

Old Mutual Emerging Markets ('OMEM') is pleased to announce the appointment of Mike Ilsley as Chief Financial Officer ('CFO') of OMEM and CFO-designate of Old Mutual Limited ('OML').

OML will be the new South African holding company, which is planned to be listed next year.

Mike has significant financial services experience as well as considerable experience in listed companies. He was Group Finance Director of Alexander Forbes Limited from 1999 to 2007 and prior to that was a partner at PricewaterhouseCoopers. Since leaving Alexander Forbes, Mike has held several non-executive directorships of listed insurance entities.

Peter Moya, Chief Executive Officer ('CEO') of OMEM and CEO-designate of OML, said: 'I am delighted that Mike has agreed to join the team and I look forward to resuming our past successful partnership. His vast experience in the insurance industry and his deep knowledge as finance director of a listed financial services group will be invaluable as we take the business to its listing and beyond.'

Mike Ilsley said: 'I look forward to joining Old Mutual at this exciting time and to have the opportunity to be part of the team to return Old Mutual to South Africa.'

Mike's appointment as CFO will enable lain Williamson, the current OMEM Finance Director, to take up the role of Chief Operating Officer ('COO') and focus on a broader operational remit as part of Peter's senior management team. His broad experience across the customer-facing business and in the finance function along with valued, established relationships across the group will be critical in this role.

lain Williamson said: 'I am excited about the opportunity to move back into an operational role and to working closely with Peter and Mike to take OMEM on the next stage of its development.'