Old Mutual CEO Reboots Strategy After Brawl With Predecessor (1)

When Iain Williamson took over as chief executive officer of Old Mutual Ltd. four months ago, Africa’s largest insurer was being hammered from all sides.

The Cape Town-based financial-services firm was contending with the economic fallout of a strict lockdown to contain the spread of the coronavirus, a spike in claims, and tumultuous global capital markets.

Old Mutual CEO Iain Williamson

Its reputation had been hurt by an acrimonious legal spat that saw Williamson’s predecessor suspended, locked out of his office and fired, twice. This after Old Mutual had already gained notoriety as the South African company that embarked on a global expansion ...