Steven brings significant senior management and strategic experience to Old Mutual Wealth, which will be pivotal as the business prepares for the next phase of its corporate journey. Reporting to Paul Feeney, CEO, Steven will be a key member of the executive leadership team, supporting the running of the broader business and contributing to the future strategic direction of the business.
Steven has spent over 23 years working in the South African financial services industry, fulfilling many executive management roles, including roles with UK and global wealth management responsibilities. He joins Old Mutual Wealth from Standard Bank Wealth where he has been CEO since 2015. Prior to Standard Bank Wealth, Steven worked for Liberty Holdings Limited from 2008 in a number of subsidiary positions, before becoming Deputy CEO of Liberty Holdings itself in 2013. Steven also brings main board governance experience having been appointed to the Liberty Board of Directors in 2013.
Paul Feeney, CEO of Old Mutual Wealth, comments: “I am delighted that Steven has agreed to join us. His wealth of general management experience will be invaluable to our leadership team. Our goal is to continue to build on the strategy that has helped us transform our business over the last four years. To enable this momentum to continue, our focus will be on ensuring that our vertical integration model is robust, that it drives further collaboration between the individual Old Mutual Wealth businesses and that its value is realised for the benefit of our customers. Steven’s experience will be pivotal in helping us achieve this goal.”
As a result of the broadening scope of the COO’s responsibilities, Paul Penney has decided to leave the business later in the year. Old Mutual Wealth would like to thank Paul for his significant contribution over the last four years, as well as his continued support through this period of transition.