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Mr Mupita replaces Mr Kuseni Dlamini, who resigned from the group to pursue other business interests.
In a statement yesterday, the insurance giant said Mr Mupita will assume his new post in February 2012. He is currently chief executive of the Emerging Markets Life & Savings.

Mr Paul Hanratty, chief executive of Old Mutual’s Long Term Savings business, said: “I have no doubt that Kuseni will continue to contribute to South Africa’s growth and prosperity as a business leader. This is with a conscience and clear commitment to the country’s global competitiveness agenda that he so passionately champions.
“Mr Dlamini has continued to strengthen the business both in South Africa and other emerging markets and has put in place a strong leadership team and structure to lead the implementation of the OMEM strategic

vision which he was very instrumental in developing.
“I am very pleased, however, to be able to appoint a replacement with the skills and expertise of Ralph and we are confident that he has the right expertise and experience to drive the Emerging Markets businesses

growth.”

Mr Mupita was born in 1972 in Zimbabwe. He was educated in South Africa and obtained his first degree and a Master of Business Administration at the University of Cape Town.
He joined Old Mutual in 2000 and has held various positions such as group director of sales; managing director of Old Mutual Trusts, Old Mutual New Venture Director and Managing Director of Retail Affluent.
Mr Mupita joins a host of Zimbabweans who hold influential regional and international positions.

Old Mutual Plc’s third quarter revenue rose 8 percent, helped by growth in Africa, Asia and Latin America.
The group said sales were “driven primarily” by emerging markets.
Old Mutual, founded in Cape Town in 1845, said it plans to repay £1 billion of debt by the end of the year after having paid down the equivalent of £473 million in July and a further £31 million in September 2011.