New chairman buys Old Mutual shares

New Old Mutual chairman Patrick O'Sullivan has acquired shares in the financial services company for the first time.

O'Sullivan was appointed chairman in January this year and he was formerly vice chairman of Zurich Financial Services. Prior to that, he was finance director of Zurich and chief executive of its subsidiary Eagle Star.

O'Sullivan has invested nearly £121,000 in buying 100,000 shares at 120.83p each.

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Old Mutual's operations cover savings, banking, insurance and asset management. Old Mutual has £285bn of funds under management.

Old Mutual reported a decline in profits from £595m to £247m in 2009.

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Pearson (PSON) Director name: Mr Robin FreestoneAmount purchased: 18,357 @ 1,024.00p Value: £187,976

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