In a carefully timed leadership transition, Old Mutual, one of Africa’s oldest financial services institutions, is turning a new page.
Jurie Strydom, a seasoned actuary with a track record of steering high-stakes divisions across South Africa’s financial sector, has been named CEO-designate — a move that signals a measured, yet potentially transformative shift for the 179-year-old company.
The announcement, made early this week, came with a quiet but unmistakable undertone: stability, yes — but not stagnation.
Old Mutual’s outgoing CEO, Iain Williamson, who has held the role since 2020, will retire at the end of August 2025, bringing to a close more than three decades of service.
His tenure included steadying the ship during the economic turbulence of the pandemic and initiating cost containment programs in response to inflation and rising claim volumes. The Strydom appointment is a nod to both continuity and evolution.
From Actuarial Foundations to Strategic Vision
Strydom, who began his career in actuarial science after graduating with honors from the University of Cape Town, has long been regarded as a strategic thinker in financial circles.
His resume reads like a blueprint for modern financial leadership: executive roles at Sanlam, Alexander Forbes, and Regent Insurance, culminating most recently in his stewardship of Sanlam’s Life and Savings cluster — one of the most critical arms of the group.
Colleagues describe him as a “technocrat with a pulse,” someone who balances quantitative rigor with a sharp sense of market dynamics.
“He doesn’t just crunch numbers — he interprets them, and that’s what Old Mutual needs,” said a former Sanlam executive who requested anonymity to speak freely.
Why Now, and Why Strydom?
Old Mutual’s board has called Strydom a “natural successor,” and insiders suggest his blend of digital fluency and traditional insurance experience made him a compelling choice — especially as Old Mutual intensifies its push into fintech and platform-based services.
“Jurie is not an outsider, but he’s also not part of the Old Guard. He’s walking in with a fresh perspective and the gravitas to get things done,” said Dineo Mokoena, a Johannesburg-based insurance analyst.
The group’s latest financials, which show an 11% increase in pre-tax profit year-on-year, are solid.
But analysts warn of potential headwinds: regulatory changes, demographic shifts, and the need to capture younger, digitally native clients.
Strydom is likely to continue — if not accelerate — the digital transformation that Old Mutual has been investing in since the mid-2010s.
In recent interviews, he has hinted at a “more customer-centric, technology-enabled” direction for insurance in Africa.
Leadership in a Changing Market
But can Strydom reshape Old Mutual while maintaining its legacy brand identity? It’s a delicate balancing act. The company operates in 13 African countries and employs over 30,000 people.
With South Africa’s economy under pressure and competition heating up from agile fintech players, leadership is more than a ceremonial baton pass — it’s a mandate for reinvention.
“He’ll need to modernize operations without alienating Old Mutual’s core base — the families, retirees, and savers who trust the brand,” said Thando Mthembu, a professor of finance at the University of the Witwatersrand.
“This isn’t just about product innovation; it’s about cultural transformation.”
The Road Ahead
Strydom’s appointment, effective September 2025, buys Old Mutual time for a seamless transition. But in the modern financial world, time is a luxury few can afford.
His first 100 days will likely set the tone — internally and on the Johannesburg Stock Exchange.
For now, Old Mutual is betting that a quiet but resolute leader is exactly what it needs. If Strydom delivers on the promise of transformation without upheaval, it won’t just be a new chapter — it will be a new playbook.
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