Old Mutual International Isle of Man, the international arm of Old Mutual Wealth, has named Peter Kenny managing director.
Kenny succeeds Mark Halewood, who has moved over to head up OMI’s increasingly important Americas business out of Miami, the company said.
At OMI Isle of Man, Kenny will be responsible for leading the business’s 430-plus strong team, and will report to Steven Levin, chief executive of investment platforms for Old Mutual Wealth, the company said in a statement today.
“He will also play an integral part in continuing to build the Old Mutual International brand locally, including the relationships with the business community, government and the [Isle of Man’s] Financial Services Authority,” the statement said.
Kenny, pictured, most recently has been an Isle of Man-based business development consultant and non-executive director, as well as a member of the Isle of Man Financial Services Authority’s board. Previous roles in his more-than-thirty-year career have included stints with Zurich International Financial Services, where he held various roles, including several in international client services within Zurich International Life/Eagle Star International Life; and more than 10 years with an international alternative investment firm based in London, Platinum Trading Management Ltd.
Although some of these roles saw him working in the UK and Asia, Kenny has lived and worked in the Isle of Man for 27 years, Old Mutual International said.
Old Mutual Wealth investment platforms CEO Levin said Kenny’s “vast experience” would strengthen Old Mutual International’s Isle of Man-based leadership team,at a time when the company is boosting its presence in key international markets, including Asia and Latin America.
Until 2014, Old Mutual International was known as Skandia International. Both it and Old Mutual Wealth are part of London-based, FTSE 100 Old Mutual plc, an international investment, savings, insurance, and banking group originally founded in South Africa, where it is still a major financial services provider. In addition to London Old Mutual’s shares are listed on the Johannesburg and Zimbabwe stock exchanges.
As reported, Old Mutual plc has said it intends to go ahead with a “managed separation” of its business into four separate entities, as part of which the OMW operation is expected to be de-merged and listed on the London and Johannesburg stock exchanges. The other three parts of the broken up business, which is expected to be completed by 2018, would be Old Mutual Emerging Markets, Nedbank and OM Asset Management, Old Mutual said in March.