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Old Mutual appoints two non-execs

Old Mutual Group has appointed Zoe Cruz and Adiba Ighodaro to its board as independent non-executive directors. It follows the resignation of Bongani Nqwababa today who had served as a non-executive director since April 2007.

Cruz was previously co-president of institutional securities and wealth management at Morgan Stanley before founding Voras Capital Management in 2009 and running the New York-based fund until its closure in 2012.

Ighodaro has previously held senior investment roles with Commonwealth Development Corporation and Actis, where she has head of West Africa.

Nqwababa has resigned to pursue other non-executive roles.

Old Mutual Group chairman Patrick O’Sullivan says: “We are very pleased to welcome Zoe and Adiba to our Board.  Zoe’s extensive experience of international financial markets and asset management will provide us with additional insight into these important areas of the group’s business, while Adiba’s deep knowledge of investing and operating in sub-Saharan Africa will widen the board’s ability to evaluate opportunities as we pursue our strategy of expanding further into this region.”

Cruz says: “I look forward to contributing to the growth and success of the group at a very interesting time in its development.”

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