PracticeConsultingOld Mutual denies resignation rumours

Old Mutual denies resignation rumours

Old Mutual, the financial services company, has denied allegations that former finance director Eric Anstee resigned because he was passed over for the post of chief executive.

Antsee, chief executive of Old Mutual Financial Services since August 2000, resigned last week. On Tuesday he was replaced by Edmond Warner who was previously chief executive of the company’s stockbroking subsidiary

Before his CE appointment, former Ernst & Young accountant Antsee was FD of the company, having been appointed to the post in 1998. He oversaw Old Mutual’s listing on the London Stock Exchange the following year. Chartered accountant Julian Roberts became the new FD when Anstee was promoted.

A company spokesman denied media reports that Antsee had quit because he had been overlooked for the postion of chief executive at Old Mutual in July. The post was given to Jim Sutcliffe, formerly the chief executive of the company’s life assurance business.

The spokesman told AccountancyAge.com: ‘[Anstee] left by mutual agreement. He has susbtantially achieved what he came to do at Old Mutual.’

When he resigned last Friday, Anstee said: ‘I have been with Old Mutual close to three years now, which has been a very challenging and exciting period in my career.’

‘I feel that the job I was tasked to do has substantially been completed, and it is time for me to move on. Old Mutual is now well positioned for the future and I wish Mike, Jim and their team every success.’

According to the spokesman, Anstee, who was profiled last year by Accountancy Age’s sister publication Finance Director, is currently considering his options for his next move.

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