Old Mutual appoints new chief executive to replace axed Moyo

Johannesburg – Old Mutual has appointed Iain Williamson as its group chief executive, creating more certainty for the group following the legal battle with the now axed Peter Moyo.

The group, on Friday, appointed Williamson with immediate effect, bringing to an end an extensive search by the board.

Old Mutual has been without a leader for over a year following Moyo’s suspension last May and his dismissal a month later over a conflict of interest.

According to the group, Moyo pocketed R30-million in dividend payments linked to NMT Capital, the investment company he co-founded.

Trevor Manuel, Old Mutual board chairperson said the group was delighted to have appointed Williamson, as he had steered Old Mutual through some significant leadership and operational challenges over the past year as an acting chief executive.

“His steady hand, strategic mind and authentic leadership style have been both refreshing and truly welcomed. We wish to thank Iain for his contribution during this time, and we look forward to working with him as he leads the embedding of the group’s vision and purpose of championing mutually positive futures every day,” said Manuel.

Williamson is an actuary by profession, a seasoned executive, having built nearly 30 years’ experience across the Old Mutual group.

Aeon Investment Management’s chief investment officer, Assief Mohamed said on Friday that the appointment of Williamson was positive for continuity for the group.

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