Old Mutual EM CEO departs after 16 years with the group

Managed separation 'not affected' by move

Old Mutual Emerging Markets chief executive Ralph Mupita has resigned from his position after five years at the helm, as the wider Old Mutual group embarks on a process of managed separation.

Old Mutual said a search for his successor will be "launched imminently" and Mupita will continue at OMEM for another three months. He is leaving the firm to pursue other opportunities outside of financial services. Mupita has worked at Old Mutual for 16 years in a variety of roles at OMEM and Old Mutual South Africa, and was promoted to chief executive of OMEM in February 2012. The group said its planned managed separation would be unaffected by the departure and continue as planned. This process will see Old Mutual's four businesses, Old Mutual Wealth, Old Mutual Emerging Markets...