Old Mutual’s big day – returning to SA roots after 17 year misadventure
Later today, almost 17 years after it arrived in London with a bang, Old Mutual is set to announce a return to its roots. It will bring to an end Corporate South Africa’s grand globalisation strategy...
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Old Mutual confirms strategic split – seeks minority Nedbank stake
By Renee Bonorchis (Bloomberg) — Old Mutual Plc plans to separate its four units as Chief Executive Officer Bruce Hemphill breaks up the U.K. financial services company to reverse years of flagging...
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Old Mutual working with Treasury, SARB and FSB to mitigate execution risks
Joint media statement from National Treasury, South African Reserve Bank and the Financial Services Board Old Mutual PLC has announced, following a strategic review of the Group that it intends to...
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Trevor Manuel joins other ANC stalwarts, wants oath-breaking Zuma to resign
Trevor Manuel is the highest profile ANC leader yet to call on President Jacob Zuma to resign. A politician since 1981 and South Africa’s highly respected Minister of Finance from 1996 to 2009, he...
View ArticleAlec Hogg: Why SA business is now coming out against Jacob Zuma (video)
Last week the Constitutional Court confirmed that the President of South Africa Jacob Zuma failed to uphold, defend and respect the country’s constitution. He has since apologised for his actions, and...
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Oakbay’s shrinking net – more SA companies join Gupta exodus
The trading environment for the Gupta-owned Oakbay group just got tougher as more South African companies pull the plug on business ties. Mutual and Federal joined an ever growing list after it...
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Old Mutual’s trek back to Cape Town boosted by $1bn offload of US business
Old Mutual Plc’s long trek back to its South African roots is about to get turbo-charged after news emerged in London that its adventure into US asset management is finally ending. Shares in the...
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Old Mutual CEO Hemphill’s 10x base pay jackpot receives Allan Gray support
When Bruce Hemphill lost the race for the top job at Standard Bank, his career prospects in race-obsessed South Africa seemed over. So when Old Mutual came calling, few were surprised to see Hemphill...
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Old Mutual reconsiders CEO Hemphill’s ‘excessive’ R203m proposed payout
By Matthew le Cordeur Cape Town – Old Mutual will consider a revised directors’ remuneration policy and incentive plan after its annual general meeting on Tuesday, amid concerns that CEO Bruce...
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Small local clothing manufacturer turns into one of Woolworths’ great finds
*This article is brought to you by Woolworths, committed to making a difference for our people and our planet. The business started from humble beginnings in 1998 with Lance and his wife Georgina, both...
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Trevor Manuel: Strengthen justice system – society needs assurances on...
Former Finance Minister and minister in the presidency for the National Planning Commission Trevor Manuel now dons his private sector hat at Old Mutual. Manuel finds himself at this year’s Insurance...
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Old Mutual ‘homecoming’ hits speed bump as UK investigates, earnings down 9%
Old Mutual’s return home after a 17 year misadventure was never going to be plain sailing. And while profits slipped 9 percent in the first six months of the year, the bigger concern for CEO Bruce...
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Zuma vs Gordhan battle set to hit SA taxpayers hard as investors depart
For a while after the local elections in August, it looked like the South African rand had finally reversed out of its downward path and had turned a corner. Foreign investors were optimistic that the...
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Magnus Heystek: SA enters stage of “running out of other people’s money.”
Outside of brave voices in the media, speaking truth to power is becoming increasingly rare in South Africa. That is one of several salient points made in this excellent column by Magnus Heystek, a...
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Futuregrowth CIO recants: “Had no idea of the unintended consequences.”
It says much about Futuregrowth CIO Andrew Canter’s credibility that his team’s decision to stop lending to six State Owned Enterprises rocked South African markets. But with a single Danish...
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Where were you on 9/11? I was meeting Old Mutual’s best financial adviser....
By Jackie Cameron Where were you on 9/11? BizNews writer Jackie Cameron watched planes crash into the Twin Towers with one of Old Mutual’s star intermediaries. So, each anniversary of that terrible...
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Another lender publicly follows Futuregrowth lead; many more do so secretly
Capital is cowardly. It is easily spooked and for the most part, slides away silently. Last week Futuregrowth’s maverick Chief Investment Officer Andrew Canter rattled the cage by publicly announcing...
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Brilliant. Tony Leon, architect of today’s DA, urges SA business to grow a pair
Many years ago, when his party was a shadow of today’s rather potent Democratic Alliance, then leader Tony Leon beavered away at building a platform for an effective opposition to the ANC. He was...
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South Africa’s top asset managers: Former boutiques now nation’s biggest, best
South Africa’s top asset managers are also the nation’s biggest – no surprise when you consider that investment flows follow the best returns. While contenders for top spot fluctuate quarterly, the...
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Trevor Manuel oversaw SA’s best economic growth ever; now he’ll work his...
ANC veteran Trevor Manuel is on the rise in the corporate world, with Old Mutual Emerging Markets hoping he will work his magic for the financial services giant’s shareholders. The first black finance...
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