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03/10

Old Mutual Wealth appoints Andy Pomfret as non-executive director

Andy Pomfret has been appointed to the Board of Old Mutual Wealth Management Ltd.  Andy will help the company develop its growth strategy as the leading retail investment business in the UK. He will chair the Audit Committee of Old Mutual Wealth, and will join the Board Risk and Remuneration Committees.

Andy brings with him a wealth of experience of the financial services industry as well as proven non-executive expertise. He is currently non-executive director of Graphite Enterprise Trust PLC and Aberdeen New Thai Investment Trust PLC.

Until February 2014 he was chief executive officer at Rathbone Brothers Plc a position he had held for 10 years, prior to which he had been group finance director since 1999. Prior to Rathbone Brothers he spent 13 years at Kleinwort Benson, latterly as finance director of its investment management and private banking division.

Between 2003 and 2011, in addition to his executive directorship at Rathbones he was on the Board of specialist insurance company Beazley plc where he chaired the Audit Committee for six years and then the Remuneration Committee. He was also the senior independent director.

In addition to Andy Pomfret, the Board of Old Mutual Wealth now comprises the following non-executive directors:

Simon Davies, chairman of the JP Morgan Overseas Investment Trust and chairman of Square Mile Investment Consulting and Research - previously chairman and chief executive officer at Threadneedle

Charlie Eppinger, founder of IFDS - previously chief executive and chairman of Cofunds

Jane Hanson, non-executive director at Direct Line Insurance Group plc and chairman of Reclaim Fund Ltd - previously risk and governance director at Aviva

Lord Sandy Leitch, chairman of BUPA - previously chief executive of Zurich Financial Services, chairman of Scottish Widows and deputy chairman of Lloyds Banking Group plc

Paul Feeney, chief executive of Old Mutual Wealth, comments:

“Andy has unrivalled breadth of experience in our sector as a successful CEO and finance director. He also has experience as a non-executive director and audit committee chair. He helped grow Rathbone Brothers from £7bn to £22bn funds under management in his ten years as chief executive and I am delighted to have someone with that experience and proven ability join our Board.”

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com

Notes to Editors:

Old Mutual Wealth

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK & Italy* and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £119 billion in customer investments (as at 30 September 2016).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £342.7 billion assets under management (as at 30 June 2016).

*Old Mutual Wealth announced the sale of Old Mutual Wealth Italy to Ergo Italia on 9 August 2016. The transaction is pending completion.

This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.