Another senior departure at Pru

Another senior departure at Pru

Prudential has announced that Pierre-Olivier Bouée is to step down as group chief risk officer and a member of the board, with a replacement to be announced in due course.

He joined Prudential in 2008 and served in a variety of group leadership roles before being appointed chief risk officer in 2013.

Mr Bouée will step down from the board on 31 May, but will continue in his role until 30 June to assist with the transition process.

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In March it was announced that Mr Thiam would be standing down as chief executive after six years to lead Credit Suisse.

Paul Manduca, the group’s chairman, said Mr Bouée has strengthened Prudential’s ability to manage the risks and meet the challenges of an uncertain global environment.

“While the board will be disappointed to see him leave, we respect his desire to pursue a fresh challenge; the board has a strong focus on succession planning and a process has already begun.”

Mr Bouée confirmed he decided that now is a good time to seek a new challenge, but went into no further detail on his next move.

“I would like to thank the chairman, the board and all my colleagues at Prudential for all their support during my time with the group and I wish the new chief executive Mike Wells and the rest of my colleagues every success in the future.”

Last week the insurer chose Mike Wells, chief executive of its US subsidiary, to replace outgoing boss Mr Thiam.

Mr Wells has served on Prudential’s board since 2011 and is currently chief executive and president of Jackson National Life Insurance Company.