South African insurer Old Mutual has promoted its chief operating officer, Ian Williamson, to chief executive, effective immediately.
He will lead both Old Mutual and Old Mutual Life Assurance (South Africa).
Williamson had been acting chief executive since June 2019, when the firm started looking for a replacement for ousted predecessor Peter Moyo.
He has been at Old Mutual for almost three decades and has held several senior and c-suite roles throughout his career at the insurance company.
The Moyo saga
Trevor Manuel, chairman of Old Mutual’s board, said: “We are delighted at Iain’s appointment. Over the last year, acting as interim CEO, he has worked to steer Old Mutual through some significant leadership and operational challenges.
“His steady hand, strategic mind, and authentic leadership style has been both refreshing and truly welcomed. We wish to thank Iain for his contribution during this time and we look forward to working with him as he leads the embedding of the group’s vision and purpose of championing mutually positive futures every day.
The top vacancy followed the firing of Moyo, which led to a nearly year–long legal battle resulting in the former boss losing his last appeal.
The ruling also allowed Old Mutual to officially find and name Moyo’s replacement.
Old Mutual South Africa is not connected with Quilter or Isle of Man-headquartered Quilter International, following the managed separation of the group in 2018.
