10th Jul 2019 12:24
(Alliance News) - Prudential PLC said Wednesday Chief Financial Officer Mark FitzPatrick's role has been extended to include the responsibilities of chief operating officer, ahead of the company's geographic demerger.
FitzPatrick will now oversee the life insurance and financial services company's legal, government relations and communications functions as well as looking after the books. FitzPatrick will take on the title of COO as well as CFO.
Additionally, Chief Risk Officer James Turner will take on the responsibility for Prudential's compliance issues. He now becomes group chief risk officer & compliance officer.
Prudential is planning to split its UK & Europe business, M&G Prudential, from Prudential PLC - which will cover Asia, Africa and the US.
M&G Prudential formed in 2017 through the combination of M&G Investments and Prudential's UK & Europe life business. Now it is the UK & European savings and investments business of Prudential PLC.
At the company's May AGM, M&G Prudential Chief Executive John Foley, Prudential Asia CEO Nic Nicandrou, and Chair & CEO of Prudential North America Michael Falcon all stepped down from the board of Prudential PLC as part of the demerger plans.
Shares in Prudential were down 0.4% in London on Wednesday at 1,748.00 pence each.
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