(Alliance News) - Old Mutual Ltd on Friday named new managing directors for its Wealth and Personal Finance units.
Kerrin Lane shifts to managing director of Old Mutual Personal Finance, having previously held the MD role for Old Mutual Wealth, the investment advisory arm. She replaces Karabo Morule, whose departure from Old Mutual Personal Finance was announced in October.
She also joins the company's executive team.
Old Mutual said: "Since joining Old Mutual in 1995, Kerrin has gained exceptional experience across a range of portfolios and roles. These include investment product development and portfolio management, IT and operations, distribution and marketing, business strategy and planning, as well as actuarial pricing and valuations. Her most recent role has been as MD of Old Mutual Wealth, where she led the team in delivering world-class solutions to the financial needs of our wealth clients."
Farhad Sader replaces Lane as the managing director of the Wealth unit.
The company said: "Like Kerrin, Farhad has spent his entire career at Old Mutual since joining in 2004. He has delivered outstanding results in his various roles across IT and operations strategy, as MD of Investment Administration, general manager in Personal Finance and as chief operating officer of Old Mutual Wealth.
"These senior appointments from within the company highlight Old Mutual's commitment to developing and growing an internal and diverse line of succession of senior leaders."
Old Mutual shares were 3.2% lower at 88.70 pence each in London on Friday afternoon. In Johannesburg they closed 2.7% lower at ZAR17.30.
By Eric Cunha; ericcunha@alliancenews.com
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Old Mutual Lim. (OMU)