Old Mutual Wealth S.A CEO resigns

by Old Mutual Wealth and CNBC Africa 0

Old Mutual on Friday announced the resignation of Andrew Bradley, Chief Executive Officer of Old Mutual Wealth (South Africa), and Jürgen Scherzinger, Operations Executive of Old Mutual Wealth, effective 31 July 2016.

The decision comes on a day when Britons voted for Brexit and markets are in turmoil.

READ: Sterling, stocks in free fall as UK votes for EU exit 

Both Bradley and Scherzinger intend to take a break for a while and then explore their options in the financial planning industry.

READ: British Premier, David Cameron, resigns 

Kerrin Land, Deputy CEO of Old Mutual Wealth, will take on the responsibility of Acting CEO until a new successor is appointed. She is a qualified actuary, seasoned strategist and investment professional. Before joining Old Mutual Wealth, Land spent 20 years with Old Mutual Investment Group, and played a key role in the development of some of its most innovative offerings. She has served as Head of the Listed Investment cluster of boutiques and also held the position of Director of Business Development, leading Strategy, Operations, Marketing and Distribution, and new business initiatives into Africa.

Old Mutual South Africa CE Dave Macready said, “We believe strongly in the strategic direction and vision of an advice led business in the Wealth segment and will continue to build and grow on its solid foundations. I am confident that Kerrin will provide the leadership required during the transition period, and know that she will be well supported by the strong and experienced Old Mutual Wealth management team.

“The Old Mutual Wealth business has been very innovative with its advice process, integrated wealth management tool and robust investment platform. We have a business in place today that is truly centred on catering for the financial needs of high net worth customers and I would like to thank both Andrew and Jürgen for their contribution and also wish them all the best going forward,” Macready concluded.