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Johannesburg - International long-term savings group Old Mutual plc announced on Monday that Patrick O'Sullivan has
succeeded Chris Collins as the chairperson of the group's board of directors.
Collins retired from the board on December 31 2009.
Julian Roberts, group CEO of Old Mutual, said: "We are delighted that Patrick has joined us as our new chairman following the retirement of Chris Collins.
We thank Chris for his guidance and management of the board throughout his tenure and particularly during the extraordinarily tough market conditions of the last 18 months."
"Patrick brings with him considerable experience of international financial services groups and restructuring and I look forward to his counsel and contribution to the future development of the group in building long-term shareholder value."
Directorships held by O'Sullivan in other publicly quoted companies during the past five years include:
-
Man Group plc (non-executive director - current)
- Bank Of Ireland (non-executive director - current)
- Collins Stewart plc (non-executive Director - ceased December 2009)
- Zurich Financial Services Group (executive Director - ceased April 2009).
O'Sullivan retired in April 2009 after 11 years at Zurich Financial Services (Zurich), where he was vice-chairperson from March 2007, with specific responsibility for the Zurich's international businesses, including South Africa.
Since then he has been chief operating officer retail, Asia and Latin America of COFRA Group in Switzerland.
He first joined Zurich as CEO, general insurance and banking, of its UKISA Business Division in 1998. In December 2002, he assumed the position of group finance director and became a member of the group executive committee.
Having qualified as a chartered accountant, O'Sullivan initially worked for Bank of America and then moved to Goldman Sachs as financial controller for Europe.
In 1990 he moved to Financial Guaranty Insurance Company (FGIC), a wholly-owned subsidiary of GE Capital, where he was appointed to the board in 1993.
The following year he joined Barclays/BZW as head of international banking and structured finance, and in September 1996 he became BZW's chief operating officer. In 1997, he joined Eagle Star Insurance Company as CEO.
- I-Net Bridge