Old Mutual Picks Ranen Thakurdin as Next Group Finance Chief
South Africa · COMPANIES
Key Facts
- —What happened Old Mutual named Ranen Thakurdin as Group Chief Financial Officer-designate on 8 September 2026.
- —The timeline A transition begins on 1 January 2027, with Thakurdin taking over fully on 1 April 2027, subject to regulatory approval.
- —His current role Thakurdin is Group Chief Risk Officer and has been with Old Mutual since 2018.
- —The banking angle In the first half of 2026, Old Mutual said OM Bank was nearing 1 million customers and the group raised its dividend.
- —Why it matters The appointment lands as South African insurers balance domestic growth, sovereign-risk sensitivity, and global investor scrutiny.
Old Mutual has chosen Ranen Thakurdin, its Group Chief Risk Officer, as the next Group Chief Financial Officer, with the handover set for 1 April 2027 after a transition starting on 1 January 2027.
Old Mutual announced on 8 September 2026 that Ranen Thakurdin will become its next Group Chief Financial Officer. He takes over on 1 April 2027, following a transition period that begins on 1 January 2027, subject to regulatory approval.
A homegrown Old Mutual CFO pick
Thakurdin is not an outsider. He joined Old Mutual in 2018 and currently serves as Group Chief Risk Officer and a member of the group executive committee.
His earlier roles at the company include Chief Accountant, General Manager of Group Reporting and Insights, and Head of Capital and Balance Sheet Optimisation. That path gives him direct exposure to the balance-sheet discipline a finance chief needs.
His professional credentials are heavy on numbers and risk. He is a Fellow of the Actuarial Society of South Africa and holds a BBusSc, an MBA from the University of Cape Town, the Financial Risk Manager designation, and the Chartered Financial Analyst charter.
Why the Old Mutual CFO move matters now
The appointment comes while Old Mutual is reshaping its leadership and pushing its banking ambitions. In the first half of 2026, the group said OM Bank was nearing 1 million customers and it raised its dividend.
That context matters for investors. A finance chief stepping in during a banking build-out must manage capital allocation, regulatory demands, and shareholder expectations at the same time.
South African insurers and banks are operating in a tight financial regulation environment. They are also exposed to sovereign-risk sensitivity and global investor scrutiny, which makes the finance role more political than a simple accounting job.
The transition timeline in detail
Old Mutual has given itself a long runway. The transition starts on 1 January 2027, and Thakurdin formally takes over as Group CFO on 1 April 2027.
The gap allows for a handover of responsibilities and for regulatory approval to be completed. Thakurdin succeeds Casper Troskie, who will retire on 30 April 2027 after leading the group's finances since 2018.
For a group of Old Mutual’s size, a three-month transition is a signal of stability rather than crisis. It gives the board time to manage any regulatory questions without a leadership vacuum.
What Thakurdin brings to the finance seat
Thakurdin’s actuarial background sets him apart from many finance chiefs who come up through pure accounting. Actuaries are trained to think in probabilities, long-term liabilities, and capital buffers.
That skill set fits a business where insurance liabilities and banking deposits sit on the same group balance sheet. His time as Chief Risk Officer also means he already knows where the group’s vulnerabilities lie.
His previous role as Head of Capital and Balance Sheet Optimisation suggests he has been close to the exact decisions a CFO must defend to regulators and investors. The promotion looks like a continuity play rather than a sharp change of direction.
The South African and regional read-through
South Africa’s financial sector is the most developed in Africa, and Old Mutual is one of its oldest names. Leadership changes at this level are watched across the continent because they signal how large institutions are preparing for tougher conditions.
The group’s banking push through OM Bank puts it in direct competition with established lenders. That is a capital-intensive move, and the finance chief will be central to how much risk the group is willing to carry.
For global investors, the appointment is a test of whether Old Mutual can keep its insurance core stable while building a bank. The answer will show up in future capital decisions, dividend policy, and how the group talks about sovereign exposure.
This story also fits the wider pattern covered in Africa: The New Scramble, where financial institutions are repositioning for a more contested investment landscape.
What to watch next
The first checkpoint is regulatory approval, which Old Mutual has not yet confirmed. After that, the transition begins on 1 January 2027.
Investors should watch for any change in tone around OM Bank’s capital needs once Thakurdin is in the seat. A new finance chief often brings a fresh view on how much capital the banking arm should consume.
The full handover on 1 April 2027 will be the moment to judge whether this is a quiet succession or the start of a more aggressive capital strategy. Until then, the group’s messaging is likely to stay cautious.
Frequently asked questions
Who is Old Mutual’s new Group CFO?
Ranen Thakurdin is the Group Chief Financial Officer-designate, announced on 8 September 2026. He is currently Group Chief Risk Officer and has been with Old Mutual since 2018.
When does Ranen Thakurdin take over as Old Mutual CFO?
He takes over on 1 April 2027, after a transition period starting on 1 January 2027, subject to regulatory approval.
Why is the Old Mutual CFO appointment important for investors?
It comes as Old Mutual pushes its banking ambitions, with OM Bank nearing 1 million customers in the first half of 2026 and the group raising its dividend.
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