Old Mutual Investments appoints board chair and COO

Nersan Naidoo, who is currently chairman of the Old Mutual Investments board, will take on more direct governance oversight of Old Mutual Investment’s affiliate businesses. Image: Supplied Old Mutual Limited on Friday announced the appointment of Nersan Naidoo as chair of the boards of the affiliates of Old Mutual Investments and Zulfa Abdurahman as chief operating officer (COO) of Old Mutual Investments. Old Mutual Investments is the holding entity for several investment businesses, including Futuregrowth Asset Management, Marriott Investment Managers, Old Mutual Alternative Investments and Old Mutual Investment Group.

The appointments follow shortly after Old Mutual named Roger Jardine as chairman designate, set to succeed Trevor Manuel when he retires at the group’s annual general meeting in June 2026 Old Mutualsays the appointments form part of efforts to strengthen the group’s affiliate operating model, which is based on independent, autonomous investment businesses with an owner-manager structure. Naidoo, who is currently chairman of the Old Mutual Investments board, will take on more direct governance oversight of the affiliate businesses in his new role. His responsibilities will include strategy, investment performance, client oversight and board accountability.

The managing directors of the affiliates will report to their respective boards, which will be led by the chair. Abdurahman, as COO, will join the Old Mutual Group Executive and oversee central functions within Old Mutual Investments, including finance, risk, human capital and governance. She will also act as Old Mutual’s shareholder representative on each of the affiliate boards and work with affiliate leadership teams within agreed governance frameworks to ensure consistent execution and reporting.

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The group said the appointments follow a period during which Old Mutual Investments operated under an interim leadership arrangement. Old Mutual notes that the changes are aimed at reinforcing its decentralised affiliate model, enhancing governance and ensuring clear accountability across its investment businesses.

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