Governance

Governance Overview

Approach to governance

As the Company's primary listing (known in the UK as a premium listing) is on the London Stock Exchange, the Company abides by the UK Corporate Governance Code 2014, but also has appropriate regard to governance expectations in other territories where its shares are listed. The text of the UK Corporate Governance Code 2014 is available on the Financial Reporting Council's website at www.frc.org.uk.

Governance relationship with Nedbank

The governance relationship with our majority-owned subsidiary, Nedbank Group Limited (Nedbank), recognises the latter's own governance framework as a separately-listed entity on the JSE Limited and the fact that it has minority shareholders. The Company has a relationship agreement with Nedbank that sets out the Company's requirements and expectations as its majority shareholder.

Subsidiary companies

Our major South African public subsidiary companies are subject to applicable local governance expectations, including those contained in King III and, for Nedbank, the JSE's listings requirements. In addition, given that we have two 'domestically systematically important financial institutions' - Old Mutual Emerging Markets and Nedbank - we are actively considering how we may need to adapt the future governance of our South African operations as South Africa migrates to a 'Twin Peaks' regulation model similar to the UK's.

Board of Directors

The Old Mutual Board currently has 12 members, 2 of whom are executive and 10 of whom are non-executive. Further details of the current membership can be found on our Board of Directors page.