Mike Evans has been named as the new chairman of M&G Prudential ahead of its planned demerger from Prudential.
Mr Evans brings 36 years of savings and investment experience to the role, having held roles such as chief executive at Skandia and chairman at Hargreaves Lansdown.
He steps into his new role with immediate effect. Aside from chairing M&G Prudential, he is chairman of online food order and delivery service Just Eat.
Mr Evans began his career with Clerical Medical in 1982, qualifying as an actuary in 1988. He joined Skandia in 1986, where he rose to the position of chief executive office in 2004.
Other roles have included serving as a non-executive director of esure Group and as senior director of life and pensions consolidator Chesnara.
M&G Prudential and Prudential are about to demerge to become separately listed companies, with M&G Prudential operating as a savings and investment provider focused on the UK and Europe, and Prudential operating across Asia, the US and Africa.
Mr Evans said: "This is an exciting time to be joining M&G Prudential, which is a strong business with lots of opportunities for growth in the UK and international savings and investment markets. I look forward to working with John and his team as we become an independent business."
Paul Manduca, chairman of Prudential, said: "I am pleased that Mike Evans has joined M&G Prudential as chair. His extensive boardroom experience and track record with UK listed businesses will be great assets during the demerger and when M&G Prudential becomes an independent company."
In July it emerged that M&G Investments' chief executive Anne Richards was leaving to join Fidelity International as chief executive to be succeeded by John Foley.
Mr Foley said: "I am delighted that Mike has been appointed as chair of M&G Prudential, working with us on our journey to independence and, above all, as we continue to deliver great outcomes for our millions of customers."