10th May 2019 12:54
LONDON (Alliance News) - FTSE 100-listed life insurer Prudential PLC said Friday it has hired Amy Yip as non-executive director, starting from September 3.
Prudential said Yip has "extensive experience" in China and southeast Asia - where about half of the company's profit comes from.
For 2018, Prudential reported operating profit of GBP4.83 billion, with GBP2.16 billion coming from its Asia operations.
The company is in the process of splitting its UK & Europe business, M&G Prudential, from Prudential PLC - which will cover Asia, Africa and the US - resulting in two separately-listed companies.
Yip has served as an executive director of the Hong Kong Monetary Authority - which operates as the region's central bank. She was also the group head of wealth management at Singapore lender DBS Bank, and later chair of the unit, and was previously chief executive officer of DBS Bank's Hong Kong operations.
Yip was also a member of the Hong Kong government commission on strategic development.
She currently sits on the board, as non-executive director, of German stock exchange operator Deutsche Borse AG, AIG Insurance Hong Kong Ltd and Fidelity Funds - run by US investment giant Fidelity Investments Inc.
Shares in Prudential were up 1.0% Friday at 1,627.00 pence each.