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TMCNet:  Mwangi Appointed New Old Mutual CEO

[August 26, 2014]

Mwangi Appointed New Old Mutual CEO

(AllAfrica Via Acquire Media NewsEdge) OLD Mutual Kenya, the insurance firm, has appointed Peter King'ori Mwangi as the new Group Chief Executive Officer effective 1 October.

Old Mutual Africa Chief Operations Officer, Tavaziva Madzinga, expressed the Old Mutual Group's enthusiasm in Mwangi's appointment.

This is among several initiatives that support the Group's intentions to focus on East and West Africa s as it's core growth markets.

"We are excited to welcome Mr Mwangi to the Old Mutual Group. He is an experienced leader with a proven track record of steering companies to deliver market -led solutions for customers. He has served across various East African companies at both Director and board level," Madzinga said.


"We will look to benefit from this experience to grow our business across East Africa."With the Group's focus on growing in East Africa, and Kenya in particular, Mr Mwangi will guide the delivery of Old Mutual's commitment to provide affordable insurance and banking solutions to millions of Kenyans." Peter Muthoka, Chairman of the Board of Directors, said the importance of customers could not be emphasised enough.

"We are dedicated to our vision of becoming our customers' most trusted financial partner and we look forward to working closely with Mr Mwangi in serving Kenyans to empower them financially to achieve their goals," he said.

Mwangi has been working as the CEO and Managing Director of Nairobi Securities Exchange and earlier on worked as the Managing Director of Centum Investment Company.

He takes over from Rueben Java, who held the reigns from September 201, and has been reassigned to the life business at Old Mutual Zimbabwe, one of the most significant contributors to the Africa business, as part of realignments to best serve the Group's expansion strategy.

Copyright CAJ News Agency. Distributed by AllAfrica Global Media (allAfrica.com).

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