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Old Mutual’s chief operating officer steps down

Old Mutual’s chief operating officer steps down

Paul Hanratty, Old Mutual’s chief operating officer, is set to step down but a replacement has not yet been announced, a statement from the provider said.

The statement explained that Mr Hanratty will work and remain on the board until the company’s preliminary results for this financial year are announced next March.

He will then step down from the board, but will remain available to the group until the end of his 12-month notice period, which will expire on 14 September 2016.

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Mr Hanratty has served as chief operating officer at group level since July 2013, having moved up from being managing director of Old Mutual Investment Group in South Africa and prior to that chief executive officer of long-term savings of Old Mutual Wealth Management since March 2009.

He said that it has been a privilege to work at the firm over a period when the company has developed in both Africa and the UK.

Julian Roberts, group chief executive of Old Mutual, said: “Paul has dedicated over 30 years to Old Mutual both in South Africa and more recently at group level.

“We are very grateful for his outstanding contribution to the success of the company over his long career with us and wish him every success for the future.”

peter.walker@ft.com