Old Mutual Names Ingrid Johnson Finance Director

By Ian Walker

LONDON--Old Mutual PLC (OML.LN) said Wednesday it has appointed Ingrid Johnson as group finance director from July 1, replacing Philip Broadley who will remain an executive director until Aug. 31 to ensure an effective transition.

Ingrid Johnson is currently the group managing executive of retail and business banking for Nedbank Group Ltd. (NED.JO) and has been responsible for the strategic repositioning of these businesses since August 2009, the 170 year old savings and investment firm said.

Old Mutual, which originated in South Africa in 1845 and has been listed on the London and Johannesburg Stock Exchanges since 1999, also said it has appointed Paul Hanratty as chief operating officer and executive director from July 1.

Mr. Broadley will remain "With these appointments, the Board is well placed to address the further development of Group strategy,", Chief Executive Julian Roberts said.

Ms. Johnson will receive an annual base pay of 600,000 pounds ($1.01 million) and Mr. Hanratty's annual base pay will be GBP630,000. Both will be entitled to short-term incentives up to a maximum of 150% of base pay, applied on a pro-rata basis for the current year from July 1 and granted awards under the company's long term incentive plan.

Shares in London at 0755 GMT up 2 pence, or 0.77%, at 210 pence in a lower FTSE 100 Index--down 0.24%.

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