Chief executive Jackie Hunt is leaving Prudential with immediate effect.
John Foley, group investment director, has been appointed as her interim successor until a permanent replacement is announced.
Ms Hunt has been at the UK insurer since early 2013, when she joined from Standard Life where she was finance director.
Mike Wells, group chief executive of Prudential, said: “I would like to thank Jackie for the contribution she has made during a period of radical change in the UK marketplace.
“She leaves our UK life business in a strong position to continue to meet our customers’ long-term savings and retirement needs while delivering valuable returns for our shareholders.
Paul Manduca, chairman of Prudential, said: “Jackie has been an important asset to the group during her time at Prudential, navigating our UK business through a time of significant change.
“The business is in good shape, and on behalf of the board I would like to wish her well for the future.”
Her exit comes after last month Prudential launched a non-advised personal pension and drawdown product, which will give access to the full range of pension freedom options while catering for those who “feel they do not need the help” of a financial adviser before choosing income drawdown.
The Pension Choices Plan offers a range of multi-asset funds to help meet customer’s objectives. Customers can also select a cash fund if they want capital protection ahead of investment growth.
The product gives access to four funds within Prudential’s risk-managed PruFund range which is in addition to a choice of four funds from the risk-rated Dynamic Portfolios range.
It is the first time Prudential’s PruFund range has been available to consumers without financial advice since it was introduced in 2004.
The minimum investment on the Pension Choices Plan is £25,000.
emma.hughes@ft.com
