Old Mutual announced the appointment of Iain Williamson as Chief Executive Officer on Friday, July 3rd, effective immediately.
He replaces Peter Moyo, Who has had a longstanding dispute with the group on allegations of a conflict of interest.
The appointment completes an extensive process initiated by the board of directors to appoint a permanent executive for the group, Old Mutual said in a statement.
“Williamson is a seasoned manager with nearly 30 years of experience across the Old Mutual Group. He has long played a strategic role in shaping the business of the premium financial services giant in Pan-Africa, now committed to a mutually positive future for 13 million customers, ”it said.
Williamson joined Old Mutual in 1993. After holding various roles in employee benefits and personal finance, he moved to London to take on a corporate development role at what was then Old Mutual plc.
In 2003 he returned to South Africa and held various roles in sales, technology and finance before being promoted to CFO: Retail Affluent and subsequently Managing Director of the Retail Affluent segment.
He was appointed Chief Financial Officer of Old Mutual Emerging Markets in 2015 and Chief Operating Officer in 2017.
Williamson served twice as interim chief executive officer, first in 2017 and then again since May 2019.
“We are very excited about Iain’s appointment. For the past year, Iain has worked to steer Old Mutual through some significant leadership and operations challenges. In doing so, he has demonstrated his resilience and keen business acumen, aligned with the Group’s values, purpose and strategy, ”said Trevor Manuel, Chairman of Old Mutual.
“On behalf of the Board of Directors, we would like to thank him for his contribution during this time. We are confident that he will continue to inspire the organization to execute its strategy and purpose and look forward to working with him in this regard. “
Read: Old Mutual Says It Is Still Looking For A Permanent Replacement For Peter Moyo