Old Mutual Investments appoints new COO and Chairman of affiliate boards

Old Mutual Limited has updated the governance structure and operating model of Old Mutual Investments with the appointment of Nersan Naidoo as Chairman of the boards of the affiliates of Old Mutual Investments and Zulfa Abdurahman as Chief Operating Officer (COO) of Old Mutual Investments. Old Mutual Investments is the holding entity of its affiliates, which are Futuregrowth Asset Management, Marriott Investment Managers, Old Mutual Alternative Investments and Old Mutual Investment Group.

The company says these appointments further strengthen the affiliate operating model of Old Mutual Investments, which operates through independent, autonomous investment affiliates with a strong owner‑manager culture.

Nersan Naidoo is currently the Chairman of the Old Mutual Investments board. As Chairman of the affiliate boards, Nersan will provide more direct governance oversight and long‑term value stewardship of the affiliates, with an emphasis on strategy, investment performance, client oversight, and board‑led accountability. The Managing Directors of the affiliates will report into their boards led by the Chair.

As COO, Zulfa Abdurahman will be a permanent member of the Old Mutual Group Executive and serve as the operational integrator for Old Mutual Investments. She will oversee the central functions within Old Mutual Investments which include: finance, risk, human capital, and governance functions, ensuring consistent execution, shareholder performance, and reporting across the cluster, while working closely with affiliate leadership teams within agreed governance frameworks. Zulfa will serve as Old Mutual’s shareholder representative on each of the affiliate boards.

These appointments follow a period during which Old Mutual Investments operated under an interim leadership arrangement. These changes further reinforce the Group’s decentralised affiliate model, enhances governance and ensures clear accountability, enabling affiliates to remain focused on delivering strong, consistent outcomes for clients.

“These appointments reinforce the owner manager culture in our affiliate‑led investment model and strengthen how Old Mutual Investments is positioned to deliver long‑term value,” said Jurie Strydom, Group CEO of Old Mutual Limited. “They preserve the independence and accountability of our investment businesses, while ensuring strong alignment to Old Mutual as shareholder and to the outcomes we seek for clients.”