British insurer Prudential names Anil Wadhwani as CEO

He will also join the Board of Prudential Corporation Asia Limited, a wholly-owned subsidiary of Prudential, on 25 February 2023.

The new chief executive officer will present 2022 Full Year Results on 15 March 2023 and will begin meeting with investors and stakeholders thereafter, according to the company statement to the media.

Accordingly, Mark FitzPatrick, Chief Executive since 1 April 2022, will be stepping down from his role and from the Board on 24 February 2023. As previously confirmed, Mr. FitzPatrick will remain available as an adviser for a period.

“On behalf of the Board, I would like to thank Mark for his dedication, and hard work and for the significant impact he has had on the progress and transformation of Prudential during his time as CFO and COO, and in particular in leading the Company as interim Chief Executive,” stated Shriti Vadera, Chairwoman of Prudential.

With Anil’s appointment, Prudential has now completed the move of its entire senior management team to Asia.

Mr. Wadhwani said he was thrilled to join the team at such an exciting time in the development of Prudential’s Asian and African operations.

He has more than 30 years’ financial services experience, predominantly in Asia, combining strategic vision and execution in some of the world’s biggest companies.

Most recently, as CEO of Manulife’s Asia region, over his five years in the role, he successfully grew its multi-channel business and transformed its highly diversified business with significant market share gains in many key markets and making it its largest source of core earnings. Prior to this, he spent 25 years with Citi across Asia Pacific, EMEA, and the US, in a number of consumer financial services roles.

Prudential provides life and health insurance and asset management in 23 markets across Asia and Africa (on 31 December 2022). The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts.