Old Mutual Wealth has appointed Steven Braudo as chief operating officer, effective 1 June 2016.

The appointment comes after the company announced plans in March to split its global business into four parts. Current COO, Paul Penney, will leave Old Mutual later this year.

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Since 2015, Braudo has served as Standard Bank Wealth chief executive and was previously Liberty Holdings deputy chief executive. Braudo has over 23 years of experience working in the South African financial services industry in various management roles, and has had UK and global wealth management responsibilities.

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