Old Mutual has appointed Standard Bank Group director Bruce Hemphill to replace Julian Roberts as group chief executive.
Roberts will stay with the company until Hemphill’s start date, expected to be towards the end of the year. Hemphill will be an executive director based in London.
Roberts has been at the helm of Old Mutual for seven years.
Hemphill is currently chief executive of wealth, insurance and non-bank financial services at Standard Bank, the largest African banking group by assets and earnings. He was previous chief executive at Liberty Group, an African financial services firm.
Old Mutual Group chairman Patrick O’Sullivan says: “I am delighted that we are able to appoint such a uniquely qualified individual to succeed Julian and build upon his record of success.
“I would like to pay tribute to Julian for all that he has achieved at Old Mutual, particularly as group chief executive from September 2008. Under his expert leadership, the Group recovered from the challenges of the financial crisis and today is a resilient business.”
Julian Roberts says: “It has been a great privilege to be chief executive of Old Mutual for the past seven years. During that time, a great deal has been achieved at the group and I am very pleased I will be leaving the company in such capable hands.”