Old Mutual Appoints Prabashini Moodley as CEO of New Life & Savings Segment

Clarence Nethengwe Takes Over Oversight of Finance and Transaction Services

Old Mutual is pleased to announce the appointment of Ms Prabashini Moodley as Chief Executive Officer (CEO) of Old Mutual’s newly configured Life and Savings segment, effective 1 August 2025. Prabashini will continue to report directly to the Group CEO, Jurie Strydom. The Life and Savings segment will consist of four business units namely, Personal Finance, Old Mutual Wealth Management, Old Mutual Corporate, and the Mass and Foundation Cluster (MFC) – excluding banking. The Managing Directors of these business units will report to Prabashini.

The formation of the Life and Savings segment will ultimately enable more effective delivery to customers and intermediaries in South Africa and greater leveraging of the benefits of scale efficiencies in key areas.

Prabashini is currently the Managing Director of Old Mutual Corporate and has enjoyed a long and successful career at Old Mutual. She joined the Group in 2002 and qualified as an actuary shortly thereafter. Prabashini also holds a Global Executive MBA from IESE Business School and has served in various roles across Personal Finance, Old Mutual Investment Group, and the MFC, including four years as the MFC’s Chief Financial Officer. Her international experience includes a tenure at Skandia México, where she established and led a customer segment business.

Old Mutual Group CEO Jurie Strydom said: “I want to congratulate Prabashini on her well-deserved appointment. I am confident that Prabashini will bring the clarity, energy, and accountability needed to lead her team and create value across these business units. In addition, the shift of Old Mutual Finance and Old Mutual Transaction Services to fall under the executive oversight of OM Bank CEO Clarence Nethengwe, marks a strategic step in aligning Old Mutual’s banking operations in South Africa as we prepare for the launch of OM Bank.”

These changes reflect Old Mutual’s continued commitment to enhancing organisational effectiveness, driving operational efficiency, and delivering sustainable value to customers and all stakeholders.