Old Mutual’s share price jumped more than 10% on Friday following the news of fintech investor and actuary Jurie Strydom’s appointment as CEO designate to the group. Commenting on the development, Radebe Sipamla, co-portfolio manager at Mergence Investment Managers, said that there had been a lost opportunity for transformation as the past two appointments since the departure of Peter Moyo in 2019 had been white males. Nonetheless, the appointment of Mr Strydom should bring fresh perspective and be positive for the share rating.

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