Old Mutual has confirmed the appointment of Bruce Hemphill as new Group Chief Executive with effect from November 1, 2015.

Julian Roberts, the former Group CEO, ceased to be an executive director of the Company on October 31, 2015.

Roberts remains available to Old Mutual until April 14, 2016.

Hemphill was previously Chief Executive of Wealth, Insurance and Non-Bank Financial Services at Standard Bank Group, the largest African banking group by assets and earnings.

From June 2006 to February 2014, he was Chief Executive of Liberty Group, an African financial services group listed on the JSE.

Before joining Liberty, he held a number of roles in asset management and banking.

Commenting on his appointment, Hemphill said: 'I am delighted to be joining as Old Mutual's Group Chief Executive and leading the Group in the next stage of its development.”

“My initial focus will be visiting the individual businesses within the Group; building a detailed knowledge of those businesses and their management; and meeting staff, customers and other stakeholders. I look forward to sharing my observations in the second quarter of 2016,” he said.

Old Mutual provides investment, savings, insurance and banking services to more than 17 million customers in Africa, the Americas, Asia and Europe.

Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.