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Old Mutual appoints Patrick O’Sullivan chairman as Chris Collins retires

Old Mutual has appointed Patrick O’Sullivan as chairman following the retirement of former chairman Chris Collins from the board on 31 December 2009.

Patrick O’Sullivan took up his position on January 1 and is also currently a non-executive director of Man Group and of Bank Of Ireland. He has previously been a non-executive of Collins Stewart and an executive director of Zurich Financial Services.

Group chief executive of Old Mutual Julian Roberts says: “We thank Chris for his guidance and management of the board throughout his tenure and particularly during the extraordinarily tough market conditions of the last 18 months.

“Patrick brings with him considerable experience of international financial services groups and restructuring and I look forward to his counsel and contribution to the future development of the Group in building long-term shareholder value.”


Commission can stay for protection business

Advisers and insurers are relieved at the FSA’s decision to allow commission to remain for protection products. In the retail distribution review consultation paper, the FSA says it will not introduce adviser-charging for protection but will require firms to disclose a commission payment where pure protection is sold at the same time as investment advice. […]

Minghella awarded an OBE

Outgoing chief executive of the Financial Services Compensation Scheme Loretta Minghella has been awarded an OBE for services to the financial services industry in the Queen’s New Year’s honours list. Minghella is leaving the FSSC in the spring after five years in the role. Other members of the financial services industry to be awarded honours […]


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