REG - Prudential PLC - Prudential appoints Ben Bulmer as CFO

PrudentialAnnouncement

31/05/2023 07:00

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RNS Number : 1433B  Prudential PLC  31 May 2023

31 May 2023

 

Prudential appoints Ben Bulmer as Chief Financial Officer

 

Prudential plc ('Prudential', the 'Company' or the 'Group') announces the
appointment, subject to regulatory approval, of Ben Bulmer as Chief Financial
Officer.

 

Mr Bulmer is currently CFO, Insurance and Asset Management, having previously
served as Chief Financial Officer of Prudential Corporation Asia. He has
extensive experience of the Group, having served in a variety of leadership
positions across the finance function in Asia and London since joining in
1997.

 

Mr Bulmer becomes a member of the Group Executive Committee, reporting to Anil
Wadhwani, Chief Executive Officer, and will continue to be based in Hong Kong.

 

Mr Bulmer succeeds James Turner, who has resigned today as Chief Financial
Officer in light of an  investigation into a Code of Conduct issue relating
to a recent recruitment situation.  The Group sets itself high standards and
Mr Turner fell short on this occasion. Mr Turner will remain available to the
Group for a period of four months to support a smooth transition.

 

There are no implications for the financial performance, reporting or
operations of the business.

 

Anil Wadhwani, Chief Executive Officer said: "I am delighted to appoint Ben as
Chief Financial Officer. Ben is a highly experienced finance leader who has
developed a deep understanding of our business and markets during his 26 years
at Prudential, including in his role as Chief Financial Officer at Prudential
Hong Kong's Life Insurance businesses and in central finance roles in the
Group. The Board and I have a strong relationship with Ben and look forward to
continuing to work closely with him in his new role as we seek to take
advantage of the significant opportunities ahead.

 

"Our Code of Conduct sets out that we expect all our colleagues to adhere to
the highest professional standards and behaviours.  On behalf of the Board, I
would like to extend our gratitude to James for his twelve years of
contribution to the business and wish him well for the future."

 

The Group expects to publish its Half Year Results on 30 August, as previously
announced.

 

ENDS

 

Contacts:

 

 Media                             Investors/analysts
 Simon Kutner  +44 (0)7581 023260  Patrick Bowes       +852 9611 2981
 Sonia Tsang   +852 5580 7525      William Elderkin    +44 (0)20 3977 9215
                                   Darwin Lam          +852 2918 6348

 

1.  Mr Bulmer joined the Company in 1997 and has served in a variety of
senior finance positions in Asia and London. In his most recent role as CFO,
Insurance and Asset Management, Mr Bulmer leads the Performance Management,
Financial Planning & Analysis, Finance Operations & Control, Tax,
Actuarial and Capital Management functions of the Prudential Group.  He is a
member of the Group Management Forum and manages a finance community of 16
CFOs across 13 countries and the Africa Regional Head Office.

 

Mr Bulmer is an accomplished Finance Executive having held a variety of
leadership roles including CFO, Insurance and Asset Management, Regional CFO
of Prudential Asia, CFO of Eastspring, the Group's asset management business,
CFO of Prudential Hong Kong's Life and General Insurance businesses and Chief
Accountant of Prudential Asia.

 

He has extensive Board and Committee experience in insurance and asset
management across Asian markets and has a proven history of leading large
scale change programmes.

 

Mr Bulmer is a Chartered Accountant (The Chartered Institute of Management
Accountants) and holds a Bachelor of Arts (Hons) degree from The London School
of Economics.

 

 

2.  In line with the Group's remuneration policy approved by shareholders,
remuneration arrangements for Mr Turner are in line with his contractual
entitlements and there are no additional payments. The Remuneration Committee
has decided that certain past variable remuneration awards will lapse
following Mr Turner's departure and an adjustment may be made in the future to
other awards, if appropriate in line with the provisions of the policy and in
line with the rules of the relevant plans.

 

About Prudential plc

Prudential plc provides life and health insurance and asset management in 24
markets across Asia and Africa. The business helps people get the most out of
life, by making healthcare affordable and accessible and by promoting
financial inclusion. Prudential protects people's wealth, helps them grow
their assets, and empowers them to save for their goals. 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. It is a constituent of the Hang Seng
Composite Index and is also included for trading in the Shenzhen-Hong Kong
Stock Connect programme and Shanghai-Hong Kong Stock Connect programme.

 

Prudential is not affiliated in any manner with Prudential Financial, Inc. a
company whose principal place of business is in the United States of America,
nor with The Prudential Assurance Company Limited, a subsidiary of M&G
plc, a company incorporated in the United Kingdom.
https://www.prudentialplc.com/
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