Telecommunications group MTN has a new chief financial officer. Ralph Mupita, the CEO of Old Mutual emerging markets, will take over as MTN’s CFO on 3 April 2017.

Mupita’s appointment adds to a growing list of top executives that MTN has hired from the financial services industry.

Incoming group CEO Rob Shuter is a previous head of Nedbank’s retail business. He will take the reins at the mobile group in March next year.

And Stephen van Coller, formerly head of Absa’s Corporate and Investment Bank, took over as MTN’s vice-president of strategy and mergers & acquisitions on 1 October.

MTN said Mupita has “extensive experience in the financial services sector, having had a distinguished career at Old Mutual over the last 16 years”.

“The board of directors of MTN Group, following accepted standard governance practice, is assured that Ralph is suitable to take on this important role and responsibility, considering his background in the highly regulated and well developed risk framework in the financial services sector,” it added.

Gunter Engling, currently acting group CFO, will assume the position of deputy chief financial officer with effect from 3 April 2017, reporting to Mupita.

Mupita takes over from Brett Goschen, who resigned earlier this year.

“I am delighted to have someone of Ralph’s calibre join the team. His background in financial services and emerging markets will stand him in good stead in his new role as group CFO,” said MTN Group executive chairman Phuthuma Nhleko in a statement to shareholders announcing Mupita’s appointment.

Mupita has a BSc Engineering (Hons) and an MBA, both from the University of Cape Town. Before joining Old Mutual in 2001, he worked on engineering and construction projects in South Africa.

In his current role as CEO of Old Mutual Emerging Markets, Mupita is responsible for Old Mutual’s operations in emerging markets, excluding Nedbank. He will serve a three-month notice period with his current employer. — © 2016 NewsCentral Media