Old Mutual Investments appoints board chair and COO

Old Mutual Limited today announced the appointment of Nersan Naidoo as chair 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 for several investment businesses, including Futuregrowth Asset Management, Marriott Investment Managers, Old Mutual Alternative Investments and Old Mutual Investment Group.

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The appointments follow shortly after Old Mutual named Roger Jardine as chairman designate, set to succeed Trevor Manuel when he retires at the group’s annual general meeting in June 2026

Old Mutual says the appointments form part of efforts to strengthen the group’s affiliate operating model, which is based on independent, autonomous investment businesses with an owner-manager structure.

Naidoo, who is currently chairman of the Old Mutual Investments board, will take on more direct governance oversight of the affiliate businesses in his new role.

His responsibilities will include strategy, investment performance, client oversight and board accountability.

The managing directors of the affiliates will report to their respective boards, which will be led by the chair.

Abdurahman, as COO, will join the Old Mutual Group Executive and oversee central functions within Old Mutual Investments, including finance, risk, human capital and governance.

Zulfa Abdurahman, COO of Old Mutual Investments. Image: Supplied

She will also act as Old Mutual’s shareholder representative on each of the affiliate boards and work with affiliate leadership teams within agreed governance frameworks to ensure consistent execution and reporting.

The group said the appointments follow a period during which Old Mutual Investments operated under an interim leadership arrangement.

Old Mutual notes that the changes are aimed at reinforcing its decentralised affiliate model, enhancing governance and ensuring clear accountability across its investment businesses.

Group CEO Jurie Strydom says the appointments will reinforce the owner manager culture in the group’s affiliate-led investment model.

“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.”

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