Trevor Manuel to retire as Old Mutual chair in June

Old Mutual's announcement of Trevor Manuel's retirement as chair marks a significant inflection point for one of Africa's most strategically important financial institutions. The transition, effective June 2026, represents not merely a routine succession but reflects broader governance evolution within the continent's financial sector during a period of substantial investor scrutiny. Manuel's decade-long tenure since 2016 has coincided with Old Mutual's navigation through multiple regulatory environments, digital transformation pressures, and the evolving African investment landscape. The 70-year-old former Finance Minister brought institutional credibility and policy expertise that proved valuable during his stewardship. His departure at the mandatory retirement threshold underscores Old Mutual's commitment to age-based governance protocols—a practice increasingly scrutinized by institutional investors seeking alignment with international best practices. Roger Jardine's appointment as incoming chair introduces continuity through leadership experience within South Africa's financial sector. Jardine's background at FirstRand, one of the Southern African region's most sophisticated banking operations, signals the board's intention to maintain institutional knowledge while signaling openness to fresh perspectives. For European investors, this leadership profile suggests continued emphasis on operational rigor and shareholder value optimization. Old Mutual operates across 13 African countries and manages assets exceeding $45 billion USD, making it a critical exposure point for