Resignation from Britain's biggest insurer
Former Standard Life CFO Hunt in sudden exit from Prudential
Jackie Hunt, former CFO at Standard Life, has left Prudential where she was chief executive of UK and Europe, with immediate effect. No explanation was given by the company. John Foley has been named as her interim successor.
Ms Hunt, who sits on the board, also took on responsibility for Africa last year. She helped steer Prudential through the government’s overhaul of the pensions system.
She is a non-executive director of TheCityUK and is also Deputy Chair of the FCA Practitioner Panel.
Her resignation comes after Mike Wells was named Group CEO in June following Tidjane Thiam’s departure to take a similar role at Credit Suisse Group.
Ms Hunt became the first female CEO of Prudential in 2013 three years after becoming CFO at Standard Life which she joined a year earlier. Ms Hunt held a number of senior leadership roles within the UK insurance industry, first at Royal & Sun Alliance and then at Aviva.
Prudential, the UK’s largest insurer by market value, is due to report third quarter results on 10 November. The shares fell 0.5% just after the announcement.
In a brief statement today Mr Wells, 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. I am also delighted that we have someone with the experience and expertise of John Foley to take the business forward until a permanent successor is appointed.”
Paul Manduca, chairman, added: “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.”