“I joined the group just over five years ago to work with Julian Roberts and my colleagues with a clear task to transform both the structure of the group and the way it did business. I am very proud of what we have all achieved over this period,” he said.
“The group today is a much simpler and more resilient business, focused on meeting our customers’ financial goals, and with a clear strategy for growth. I judge the time is right for me to move on to the next stage of my career and I wish my colleagues every success as they continue to grow Old Mutual.”
Broadley will continue as group finance director until a successor has been appointed and there has been a proper transition of responsibilities.
Julian Roberts, [DATA OML:Old Mutual]’s group chief executive said, "When Philip joined the group in 2008, our financial position was seriously challenged. The group is in a very different position today with improved levels of cashflow, reduced gearing, strong capital and a reduction in overall group risks which is testament to the significant contribution Philip has made.”
“His desire to continue until a successor is appointed will enable a smooth transition as we continue to prudently manage our growth strategy," Roberts stated.
The transition is expected to take place after the company’s Annual General Meeting in May 2014.