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22/09

Royal Skandia increases presence in Asia

Royal Skandia, part of Skandia International – the offshore business of Old Mutual plc, has increased its presence in Asia to continue the substantial growth in business with a number of new appointments and an internal promotion.

22 September 2011

Royal Skandia, part of Skandia International – the offshore business of Old Mutual plc, has increased its presence in Asia to continue the substantial growth in business with a number of new appointments and an internal promotion.

Mike Leeson has been promoted to the position of head of sales - Hong Kong and North Asia. He will be responsible for managing Royal Skandia’s sales effort in Hong Kong and the more northern Asian markets.

At the same time, Jason Pearce has been appointed area manager for Hong Kong and North Asia. Jason, who is an experienced sales professional having worked for Skandia Life in the UK for the last eight years, will report into Mike.

David MacDonald, previously head of Asia for Royal Skandia, becomes head of region for South East Asia, concentrating exclusively on developing and growing the business in Singapore and the surrounding South East Asian countries.

Craig Cheyne has also been appointed as area manager for Singapore and SE Asia. Craig brings a wealth of experience and strong relationship management skills, having worked in the UK financial services sector since 1988.

Michelle AndrewsMichelle Andrews, commercial director of Skandia International, commented:

“There are different opportunities in Hong Kong and Singapore. The regulatory landscape is also at different stages in each market. As our strategy in the region evolves and our business grows, we recognise the need to develop more localised, tailored support. I'm a firm believer that investors and their Financial Advisers will benefit from the creation of specific, dedicated sales management teams in both Hong Kong and Singapore.”

Royal Skandia has held licenses to operate in Hong Kong since 1991 and in Singapore since 2008.

During the first half of 2011 new business levels have continued to grow significantly in Hong Kong and Singapore as a result of further development and increased focus on these markets by Skandia International. Overall, Royal Skandia sales in the region increased by 24% over the past 12 months compared to the same period last year.

This press release is for journalists only and should not be relied upon by financial advisers or customers.

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