MutualFundWire.com: Old Mutual Hunts for a New Asset Management CEO
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Friday, September 10, 2010|
Old Mutual Hunts for a New Asset Management CEO
Old Mutual Asset Management is looking for a new CEO. Friday morning, the firm announced that Tom Turpin is leaving "to pursue other opportunities."
Chief operating officer Linda Gibson will assume the CEO role on an interim basis as the firm looks for a replacement.
Word of Turpin's departure comes six months after OMAM's parent unveiled a plan to conduct a partial IPO of the U.S. asset management business.
"With the announcement of our intention to instigate a partial initial public offering, Tom has decided that it is the right time to pursue other professional and personal interests," according to the press release issued Friday.
Company Press Release
Old Mutual plc ("Old Mutual") announces that Tom Turpin, Chief Executive Officer of Old Mutual Asset Management has decided to leave the business to pursue other opportunities.
Mr Turpin has led Old Mutual's asset management business as CEO through its continued development over the past two years and leaves the business well positioned as a leading asset manager. With the announcement of our intention to instigate a partial initial public offering, Tom has decided that it is the right time to pursue other professional and personal interests.
Old Mutual wishes to thank Mr Turpin for his significant contributions over the eight years that he has worked at Old Mutual.
Mr Turpin will hand over day-to-day operating responsibility to Chief Operating Officer Linda Gibson who will take on the additional role of Interim CEO as we commence a search for a new CEO. Ms Gibson will report directly to Julian Roberts, Group Chief Executive of Old Mutual until a successor is found.
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