Old Mutual Bank (OMB) has announced the appointment of a new CEO and national sales executive, both UCT graduates, as part of its strategy to further expand its banking business to the middle market.

Japie van Niekerk, formerly OMB marketing executive, will take over the post of CEO on October 1. He succeeds Peter Southworth, who is retiring after 35 years in the banking industry and who has successfully completed his 18-month contract to establish the new bank.

Van Niekerk, a UCT MBA graduate, joined the Group as Old Mutual personal financial advice marketing manager five years ago after building up extensive marketing experience with Sappi, Coca-Cola and M-Tel.


Sakhiwo (Saks) Ntombela, also a UCT MBA graduate, has been appointed OMB sales executive from September 1. Ntombela has been a key player on the strategy to grow OM's footprint in Gauteng.

OMB was officially launched in March this year when a total of 46 former Permanent Bank branches were greened as OMB outlets. It currently offers investment products, home loans, vehicle finance, credit cards and cheque accounts.

The Bank is a 50:50 joint venture between OM and Nedcor and is a division of Nedbank Limited.

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