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Khaya Gobodo will take over the reins from Dave Macready at Old Mutual's wealth and investments division.
Old Mutual on Tuesday issued a statement announcing the executive changes, which come into effect from January 1, 2019.
Gobodo is currently deputy MD of the division and managing director of the investment group. Macready will be retiring early next year, warranting the change.
"Gobodo joined Wealth and Investments in January 2018 as MD of Old Mutual Investment Group, bringing with him a broad depth of investment experience and a solid track record in portfolio management and leading asset management teams.
"He is the recipient of the prestigious 2018 manager of the year award at the recent Annual achievement awards of the black management forum for his contribution to the achievement of transformation and managerial leadership development in South Africa," the statement read.
Old Mutual CEO Peter Moyo said Gobodo's credentials enabled him to play a "critical role" in crafting and executing a strong asset management strategy. "I am confident the Wealth and Investment business will be in very capable hands and that he will transition in his new role smoothly," Moyo said.
Macready joined Old Mutual in 2015 as CEO of the South African division. He has been in his current role since 2017, as part of Old Mutual's managed separation.
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