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OUR HERITAGE

 
 

2008
November Philip Broadley becomes Group Finance Director
September Julian Roberts becomes Chief Executive of Old Mutual plc, replacing Jim Sutcliffe
2007
October Skandia announces the launch of Skandia Investment Group, a new global investment management function
October Old Mutual announces £350m share buyback programme
September Old Mutual de-lists its shares in Sweden from Stockholmsbörsen
February Old Mutual Asset Management acquires Ashfield Capital Partners in the United States
January Old Mutual Asset Managers (South Africa) restructured into a multi-boutique model under the renamed Old Mutual Investment Group (South Africa)
2006
September Old Mutual Group announces Black Economic Empowerment deal in Namibia
July Old Mutual South Africa acquires Marriot Property and Income Specialists, a property investment business
March Old Mutual sells eSecLending, its US securities-lending business, to TA Associates
March Old Mutual completes the acquisition of Skandia
February Julian Roberts becomes Chief Executive Officer of Skandia
February Old Mutual Asset Management acquires a 60% interest in Copper Rock Capital Partners, a small-cap growth equity manager
2005
October 2100 Capital acquires Larch Lane, a hedge fund specialist
September Old Mutual makes offer for Skandia; total consideration approximately SEK 44.9bn
May Nedcor Limited, the holding company of Nedbank, changes its name to Nedbank Group Limited
May Mike Levett retires as Chairman of Old Mutual plc and is replaced by Christopher Collins
April Old Mutual Asset Managers establishes 21 Capital, a diversified alternative investments company
April Black Economic Empowerment deal introduced at Old Mutual South Africa, Nedbank and Mutual & Federal
2004
October Pilgrim Baxter & Associates announces change of name to Liberty Ridge Capital
July OM Kotak Mahindra changes company name to Kotak Mahindra Old Mutual Life Insurance Limited
January Old Mutual buys out the minority shareholders of Mutual & Federal
2003
December Old Mutual sells Gerrard Management Services Limited to Barclays Bank plc
October Tom Boardman is appointed Chief Executive of Nedbank Group Ltd
May Old Mutual re-launches GNI Fund Management under the name Bright Capital, a fund of hedge funds manager
2002
November Old Mutual sells Old Mutual Securities Limited to Secure Trust Banking Group
November Nedcor Bank Limited changes its name to Nedbank Limited
November Old Mutual sells GNI Holdings to Man Group plc
July Nedcor acquires BoE creating South Africa's largest bank
June Nigel Andrews is appointed as non-executive director
May US Asset Management sells NWQ Investment Management, a value oriented equity fund manager, to John Nuveen Company for $120m
2001
December Old Mutual sells Old Mutual International (Isle of Man) to Aberdeen Asset Management
November Launch of Selestia in the UK, a fully online service distributed through the IFA channel, offering IFAs and investors access to a range of third party funds
November Jim Sutcliffe becomes Chief Executive of Old Mutual plc
November Nedcor and Old Mutual (South Africa) announce the merger of Permanent Bank and Old Mutual Bank, to form Old Mutual Banking Services
September Old Mutual acquires Fidelity & Guaranty Life for $635m
September Old Mutual is admitted to FTSE4Good, the socially responsible indices run by FTSE
July Old Mutual announces that the role of Chairman and Chief Executive will be split:  Mike Levett will remain as Chairman (non-executive); Jim Sutcliffe will become Chief Executive in November
April Old Mutual South Africa purchases 20% stake in Umbono Fund Managers, a black empowered index investment house
April Nedcor and Old Mutual acquire Fleming Offshore Banking, renaming it Gerrard Private Bank (now known as Fairbairn Private Bank)
March Old Mutual acquires Unified Life Insurance Company for $25m (renamed Americom Life in May 2001)
January Old Mutual Asset Managers formed in the US, combining seven key UAM affiliates
2000
October Mutual & Federal acquires CGU Holdings South Africa for £115m
September Old Mutual acquires United Asset Management Corporation (UAM) in the US for $2.2bn
September Old Mutual enters into a joint venture in life assurance in India with Kotak Mahindra Finance Ltd
August Julian Roberts is appointed as Group Finance Director
May Albert E Sharp Securities merges with the institutional broking and corporate finance division of Greig Middleton to form Old Mutual Securities
May Nedcor acquires FBC Fidelity Bank Limited
March Capel-Cure Sharp merges with Greig Middleton, Gerrard Group's private client business (subsequently rebranded under the Gerrard name)
March Old Mutual acquires Gerrard Group for £525m
January Old Mutual sells its UK life insurance business to Century Life for £75m
1999
July Mike Levett becomes Chairman & Chief Executive of Old Mutual plc
July Old Mutual is listed on the London, Johannesburg, Zimbabwe, Malawi and Namibia stock exchanges.  Listing price is 120p (R11.25), giving the company a market capital of £3.9bn (R36.8bn)
May Old Mutual is demutualised
1999 Old Mutual establishes a head office in London

Prior to Demutualisation

 

Old Mutual has a history of more than 150 years as a South African-based mutual society prior to its public listing in 1999.

1845 - 1999
1999 Policyholders in the South African Mutual Life Assurance Society approve demutualisation
1998 Old Mutual acquires private client stockbroker Albert E Sharp. merging it with Capel-Cure Myers to form Capel-Cure Sharp
1997 Old Mutual acquires UK private client stockbroker and investment manager, Capel-Cure Myers
1995 Old Mutual Investment Advisers is established in Boston, USA.
Old Mutual opens offices in Hong Kong and Guernsey
1994 End of apartheid and creation of a new South African government led by Nelson Mandela
1993 Old Mutual Asset Managers is founded as a new subsidiary company
1986 Old Mutual makes its first entry into the UK market with the acquisition of Providence Capital
1985 Mike Levett is appointed as Chief Executive of the Group's South African life company
1982 Old Mutual becomes the first South African life assurer to receive R1 billion in premium income in one year
1973 Old Mutual acquires a shareholding in Nedcor Bank
1971 Old Mutual's premium income exceeds R100 million a year
1970 Old Mutual acquires a majority shareholding in the newly-formed Mutual & Federal.
1966 Old Mutual forms the South African Mutual Unit Trust Company Limited to administer its mutual fund/unit trust activities
1954 Old Mutual issues its millionth policy
1939 Old Mutual's Art Deco head office in Cape Town opens; at 96.8 metres the tallest man-made building in Africa at the time
1927 Old Mutual opens its first office in the capital of Zimbabwe, Harare (then known as Rhodesia and Salisbury respectively)
1920 Old Mutual opens its first office in the capital of Namibia, Windhoek (then known as South West Africa)
1910 Old Mutual chairman John X Merriman is elected first premier of the Cape Colony
1885 The company changes its name to South Africa Mutual Life Assurance Society but, in the face of increasing competition from new mutual aid institutions, starts to refer to itself as "Old Mutual" to emphasise the fact that it was South Africa's first mutual society
1870 The company's emblem is designed by board chairman Charles Bell
1845 Scotsman John Fairbairn founds The Mutual Life Assurance Society of the Cape of Good Hope with no initial capital other than the premiums of its first 166 policyholders