Old Mutual Investment Group has announced the appointment of Richard Patrick Byarugaba as its new Board Chairman,noting that he is an “experienced financial services executive and transformational leader” with more than three decades of expertise in banking, social security, and investment management across East Africa.
In a statement, the company said, “Throughout his career, Richard has shown a unique ability to drive institutional growth while keeping people at the center of transformation.”
Byarugaba, who holds an MBA and a Bachelor of Science in Statistics and Economics, is widely recognised for his leadership at Uganda’s National Social Security Fund (NSSF).
“As the former Managing Director of Uganda’s National Social Security Fund (NSSF), he led the organisation through a significant period of growth, increasing assets under management from USD 600 million to USD 4.7 billion,” the statement noted.
The company highlighted that under his stewardship, “the NSSF Amendment Bill was passed, extending pension coverage to over 10 million Ugandan workers and marking a significant milestone in the country’s social protection journey.”
Byarugaba’s credentials include being a Fellow of the Association of Chartered Certified Accountants (FCCA) and a Chartered Public Accountant (CPA) in Uganda, with ongoing advancement in the Chartered Financial Analyst (CFA) programme.
Old Mutual said his “strong commitment to excellence in investment governance and risk management” would be an asset to the Group’s strategic direction.
“Over the years, Byarugaba has worked in various governance roles, providing strategic oversight and stewardship in the financial and investment sectors,” the statement added, expressing confidence that his appointment “will strengthen Old Mutual Investment Group’s capacity to deliver sustainable growth and long-term value.”
