JOHANNESBURG: Old Mutual has appointed Prabashini Moodley as Chief Executive Officer of its newly configured Life and Savings segment, effective Aug. 1, 2025, the company announced Monday.
Moodley, a seasoned executive with over two decades at Old Mutual, will report directly to Group CEO Jurie Strydom. The Life and Savings segment will comprise four business units: Personal Finance, Old Mutual Wealth Management, Old Mutual Corporate, and the Mass and Foundation Cluster (MFC), excluding banking. The managing directors of these units will report to Moodley.
The restructuring aims to enhance service delivery to customers and intermediaries in South Africa while unlocking scale efficiencies across key areas.
“Prabashini will bring the clarity, energy, and accountability needed to lead her team and create value across these business units,” Strydom said in a statement. “Her appointment is well-deserved.”
Moodley currently serves as Managing Director of Old Mutual Corporate. She joined the group in 2002 and qualified as an actuary shortly thereafter. She holds a Global Executive MBA from IESE Business School and has held leadership roles across Personal Finance, Old Mutual Investment Group, and the MFC, including a four-year tenure as MFC’s Chief Financial Officer. Her international experience includes leading a customer segment business at Skandia México.
In a parallel move, Old Mutual Finance and Old Mutual Transaction Services will now fall under the executive oversight of OM Bank CEO Clarence Nethengwe. The shift is part of Old Mutual’s broader strategy to align its banking operations ahead of the launch of OM Bank.
“These changes reflect our ongoing commitment to organisational effectiveness, operational efficiency, and sustainable value creation for all stakeholders,” the company said.