July 27, 2018 / 8:56 AM / 3 months ago

MOVES-M&G Prudential shuffles management ahead of demerger from larger group

July 27 (Reuters) - M&G Prudential, formed through the marriage of M&G Investments and Prudential’s UK & Europe life business, said Anne Richards, currently top boss at M&G Investments, was stepping down to take up a senior leadership position in the financial services industry.

Clare Bousfield, currently CEO of Prudential UK, would become CFO of M&G Prudential, it said on Friday, adding the changes were in preparation for its planned demerger from Prudential.

“These management changes will help M&G Prudential to deliver better outcomes as a separate listed company,” Group Chief Executive Mike Wells said in a statement.

M&G Prudential’s CEO John Foley would take on the additional responsibilities of heading the key regulated entities of M&G and Prudential UK, the company said.

Reporting by Noor Zainab Hussain in Bengaluru; editing by Carolyn Cohn

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