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Old Mutual CEO announces departure

Apr. 15, 2015 8:26 AM ETOld Mutual Plc. ADR (OLMUY) StockODMTY, ODMUF, OLMUY, SGBLYBy: Yoel Minkoff, SA News Editor
  • Old Mutual's (OTC:OLMUY) Julian Roberts will step down as chief executive officer of Africa's largest insurer in the fourth quarter to be replaced by Standard Bank's (OTCPK:SGBLY) Bruce Hemphill.
  • Since becoming CEO during the 2008 global financial crisis, Roberts has sold assets, overseen an initial public offering for the insurer's U.S. asset management business and paid down debt.

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