1st Jun 2015 09:21
LONDON (Alliance News) - Prudential PLC on Monday said Barry Stowe has been appointed as its replacement as the chairman and chief executive of its North American operations for new Chief Executive Mike Wells.
The FTSE 100-listed life insurer said Stowe currently is chief executive of Prudential Corp Asia and will be replaced in that role by Tony Wilkey, currently chief executive of Prudential Corp Asia's insurance arm.
Stowe had been among those named as the potential successors to Tidjane Thiam, Prudential's former chief executive, who is set to take over as the chief executive of Credit Suisse AG, the Swiss bank. Wells took over from Thiam on Monday.
In addition, the company said that following the departure of Chief Risk Officer Pierre-Olivier Bouée, Group Investment Director John Foley will be the group's interim chief risk officer.
"At Prudential, we are privileged to have a leadership team with both strength and depth. Today's appointments demonstrate this. Barry has played a huge role in the remarkable success of our Asian operations, and I am sure that under his leadership, our North American businesses will continue to strengthen," said Wells.
Prudential shares were down 1.1% to 1,608.50 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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