Hemphill – who is currently Chief Executive of Wealth, Insurance and Non-Bank Financial Services at Standard Bank Group – is expected to replace Roberts in the fourth quarter of this year, Old Mutual said in a statement.
Hemphill (51) was the CEO of JSE listed insurer Liberty Group between June 2006 and February 2014.
“I am delighted that we are able to appoint such a uniquely qualified individual to succeed Julian and build upon his record of success. Bruce will bring experience as a chief executive of a public company combined with an in-depth knowledge of investments, savings, insurance and banking. He also has a deep understanding of the South African and wider African financial services environment,” said Patrick O’Sullivan, Group Chairman.
“(Hemphill) led Liberty on an extensive transformation and growth path while delivering significant value to shareholders, and growing bancassurance with Standard Bank in South Africa and its sub-Saharan African footprint,” Old Mutual said in a statement.
“I am excited to be appointed as Chief Executive of Old Mutual. Old Mutual is a very strong international business with excellent potential. I am looking forward to leading the executive team and the Group in the next stage of its development,” Hemphill said.
Hemphill has been appointed ahead of Paul Hanratty, a 30-year company veteran and COO since 2013.