Following the family tradition

Mr Sutcliffe was taught by his father to calculate insurance premiums

As is fitting for the head of a company with interests around the world, Jim Sutcliffe is a well travelled man.

Born in Malawi, Africa, the 47-year-old has worked on four continents.

Before joining Old Mutual, he was chief executive of Prudential UK and did a short stint as deputy chairman of Liberty.

He joined the South African insurer in 2000 and was named chief executive in November 2001.

What was your first car?

My first car was a Mini 850 - ideal for bombing around town - though we also had twins, and I'm 6ft 9ins, so you can imagine it was a bit cramped at times. Good fun, though.

I don't know what I "had my eye on" then, but now I drive an Audi A8 and it's the best car I've ever owned

What was your first job?

My first job was at Kings Park Rugby Stadium in Durban, South Africa, where I was responsible for making sure the clocks worked.

As a teenager, I also worked for my father who had a small insurance brokerage.

It was a great grounding. Basic book-keeping and calculating premiums set me up for my life in the insurance industry.

What type of house did you first own?

My first house was a three-bedroom, end of terrace in Kenton, Harrow.

It cost £17,900 - it's probably worth 10 times that or more now.

I still live in West London and I also have a home in Cape Town where I spend a lot of time on Old Mutual business.

Who is your biggest inspiration?

There's not really a single person. I've learned a lot from and been inspired by many people I've worked with over the years

What's the best bit of business advice you've had?

Be prepared and don't fly by the seat of your pants. Keep it simple.

What was the proudest moment of your career?

Apart from becoming chief executive of Old Mutual, I'd say when Jackson National - the US arm of the Prudential, which I ran for a period of time - hit $100m (£60.13m) profit.

---

Old Mutual is an international financial services group specialising in insurance, but also offering other services such as asset management in its three key territories: South Africa, the US and UK.

Currently, around 75% of its business comes from South Africa, 20% from the US and 5% in the UK.

The group employs some 44,000 staff across the world and is listed on the FTSE 100 where it has a market capitalisation of around £3.8bn.