Vic Lumby, Old Mutual SA`s former CIO, has taken up his new US appointment as senior VP and COO of the US life business, Old Mutual Financial Network (OMFN).
Lumby says his move to the US is part of a process to become more involved in the group`s core life insurance business.
"The role of the CIO is changing and he/she has to become more and more attuned to the core business of the company."
Old Mutual says Lumby joined OMFN from Old Mutual South Africa (OMSA) after 35 years, 10 of them as CIO.
As CIO, his responsibilities included the co-ordination of global IT across the group (a function he will continue to perform) and the negotiation and management of outsourcing contracts in OMSA.
Lumby orchestrated an outsourcing deal between Old Mutual and Computer Sciences Corporation (CSC) in 1999. The seven-year contract is worth about R2.1 billion.
This deal, which is due to expire next year, is being negotiated between Old Mutual and CSC. It may be expanded to include transferring the networking business of Old Mutual and its subsidiary Nedbank, from Dimension Data subsidiary Internet Solutions to a consortium including CSC and Telkom.
Old Mutual and Nedbank each own 40% of Internet Solutions` shares.
In 1999, Lumby ensured the group`s Y2K readiness, addressed the technology facets involved in the de-mutualisation process that saw it list on the London, Johannesburg, Namibian and Malawian stock exchanges, and facilitated the change in financial year-end and accounting policies.
The Computer Society of SA presented him with its CIO of the Year award in 1999.
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