SA's former finance minister Trevor Manuel joins Old Mutual board

South Africa’s former finance minister, Trevor Manuel (pictured), has been appointed as a non-executive director and member of the Board Risk Committee of the Old Mutual board effective 1 January 2016.

Manual served in the South African government as finance minister from 1996 to 2009, and is currently an advisor and deputy chairman at Rothschild, one of the world's largest independent financial advisory groups.

Speaking about the appointment, Manual said:

"I am very much looking forward to being able to contribute to the Old Mutual Group's further development over the coming years."

According to the Group, this appointment is being made in anticipation of Manuel joining the board and becoming the non-executive chairman of Old Mutual Group Holdings Limited ("OMGH"), after the current Chairman of OMGH, Paul Hanratty, leaves the Group during 2016.

Patrick O'Sullivan, chairman of Old Mutual, said:

"We are delighted to be able to appoint Mr Manuel to our Board, given his wealth of experience in advising and guiding the development of the financial services sector in emerging markets. His track record of leadership in developing sound regulation for financial services over many years will be of great benefit to the Group, in particular as we prepare for forthcoming changes in the regulatory environment in South Africa."

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