OM picks Head as director for Southern Africa

JOHANNESBURG – South African insurance giant Old Mutual Plc has appointed Bob Head as group director for Southern Africa with effect from October 3, the group said recently.

Head will be responsible for Old Mutual’s interests across the continent and the firm said his appointment was in line with plans to align its three South African businesses more closely. “Leveraging their major market positions and leading brand strengths through closer co-operation in the markets they serve,” it said in a statement.London-listed Old Mutual controls short-term insurer Mutual & Federal and banking group Nedbank.Head, who is currently group human resources and strategy director, serves on the boards of the two subsidiaries “I will be working with the three CEOs to pull the three together and our intention is more presence in areas like Kenya, Namibia and Malawi where we are active,” Head told Reuters.A Johannesburg-based analyst cheered the move.”I think this is a positive move and this guy knows the South African business.He became interim financial director at Nedbank when it was in trouble, and his appointment will force the South African chief executives to work together,” he said.-Nampa-Reuters”Leveraging their major market positions and leading brand strengths through closer co-operation in the markets they serve,” it said in a statement.London-listed Old Mutual controls short-term insurer Mutual & Federal and banking group Nedbank.Head, who is currently group human resources and strategy director, serves on the boards of the two subsidiaries “I will be working with the three CEOs to pull the three together and our intention is more presence in areas like Kenya, Namibia and Malawi where we are active,” Head told Reuters.A Johannesburg-based analyst cheered the move.”I think this is a positive move and this guy knows the South African business.He became interim financial director at Nedbank when it was in trouble, and his appointment will force the South African chief executives to work together,” he said.-Nampa-Reuters