Old Mutual

Old Mutual

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John-Fairbairn-Painting

Old Mutual headquarters

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1 Mutual Place

Old Mutual is an international financial services group that provides investment, savings, insurance, and banking services. Established in 1845 in Cape Town, South Africa, Old Mutual has grown to become a prominent player in the financial services industry, with operations in various countries around the world.

History

Old Mutual was founded by John Fairbairn and several other prominent Cape Town figures as a mutual insurance company. The company initially focused on providing life insurance to its members. Over the years, Old Mutual expanded its services to include a wide range of financial products and services.

In 1999, Old Mutual demutualized and listed on the London Stock Exchange, Johannesburg Stock Exchange, Zimbabwe Stock Exchange, Malawi Stock Exchange, and Namibian Stock Exchange. This move marked a significant transformation in the company's structure and operations, allowing it to raise capital and expand its international presence.

Operations

Old Mutual operates through several business segments, including:

• Old Mutual Wealth: Provides wealth management services, including financial planning, investment management, and retirement solutions.
• Old Mutual Emerging Markets: Focuses on providing financial services in emerging markets, particularly in Africa and Asia.
• Nedbank Group: A major South African bank in which Old Mutual holds a significant stake.
• Old Mutual Insure: Offers a range of general insurance products, including property, motor, and liability insurance.

Corporate Structure

Old Mutual is structured as a holding company with various subsidiaries and associated companies. The group's primary operations are divided into four main regions: Africa, Asia, Latin America, and Europe. Each region operates semi-independently, allowing for tailored strategies that meet local market needs.

Key People

The leadership team of Old Mutual includes a Board of Directors and an Executive Committee. The board is responsible for overseeing the company's strategic direction, while the executive committee manages day-to-day operations.

Corporate Social Responsibility

Old Mutual is committed to corporate social responsibility (CSR) and has implemented various initiatives aimed at promoting sustainable development, financial inclusion, and community development. The company supports education, healthcare, and environmental conservation projects in the regions where it operates.

See Also

• Financial services
• Investment management
• Insurance
• Banking
• Wealth management
• Nedbank Group
• London Stock Exchange
• Johannesburg Stock Exchange