SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of May, 2017
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F X
Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No X
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in connection with Rule 12g3-2(b): 82-
18 May
2017
Prudential appoints Mark FitzPatrick as Group CFO and Nic Nicandrou
as Chief Executive of Prudential Corporation Asia
Prudential plc ("Prudential") announces the appointment of Mark
FitzPatrick as Chief Financial Officer, succeeding Nic Nicandrou,
who takes over as Chief Executive of Prudential Corporation
Asia.
Mr FitzPatrick is currently a Managing Partner of Deloitte UK and a
member of its executive committee. He has 26 years of global
industry experience, and his roles at Deloitte have included
leading the CFO training programme and the insurance &
investment management audit practice.
After more than 10 years with Prudential, Tony Wilkey is to step
down as Chief Executive of PCA and from the Board of Prudential plc
to pursue new challenges.
Mr FitzPatrick will join the Board of Prudential plc in the summer
and Mr Wilkey will remain with the business to support an orderly
transition until July. The appointment has received regulatory
approval.
Mike
Wells, Group Chief Executive of Prudential plc, said: "I am
delighted to welcome Mark to Prudential. He brings both senior
boardroom experience and a quarter of a century leading the most
complex projects in global financial services. His auditor's eye for detail combined with a
matchless knowledge of the sector and Prudential will make him a
huge asset to our executive team.
"Since
joining Prudential in 2009, Nic has proven himself not just as a
first-class CFO, building and leading an international team of
experts, but also as a talented strategist and rigorous operational
manager. I am confident that he will lead our Asian business to
further success.
"We
have built a market-leading business in Asia thanks to a relentless
focus on the customer, disciplined execution by a talented team and
clear priorities. As we have reported today, we continue to have
strong momentum across the region. While our franchise strength and
capability remains second to none, we have clear priorities to
leverage our platform and accelerate our business to serve the
significant and growing needs for savings and protection products
across the region.
"Tony
has made an important contribution to our achievements in Asia over
the past decade and I wish him the best of luck for the
future."
Paul
Manduca, Chairman of Prudential plc, said: "Succession planning is
taken extremely seriously by the Board and today's appointments are
another example of this process working well. I would like to
welcome Mark to the Board, to congratulate Nic on his move to Asia,
and to thank Tony for his dedicated service to the Group over many
years."
Tony Wilkey said: "I would like to thank all my colleagues at
Prudential Corporation Asia, our agents and our partners for their
support and hard work during my time with the Group. We have built
a strong and sustainable business and I am proud of what has been
achieved. I know that the team are capable of taking it to
even greater heights."
Mark FitzPatrick said: "Having worked with many leading financial
businesses, for me Prudential has always stood out as having the
best people and a strong long-term strategy. I am therefore pleased
to have the opportunity to join the Group and look forward to
starting my new role."
Nic Nicandrou said: "I have always admired the talent and
enthusiasm of our colleagues in Asia and I am hugely looking
forward to joining the team. Prudential's purpose is to de-risk
people's lives and help them secure their financial future. Asia
remains central to the Group's prospects and we are privileged to
have the opportunity to serve the fast-growing wealth and
protection needs of current and future generations of customers in
the region.
"We have built a sustainable and high-quality franchise, and I am
excited to be part of driving our future success in one of the
fastest-growing and least-penetrated insurance markets in the
world. I have thoroughly enjoyed being Group CFO and I am pleased
to hand over the baton to a talented and experienced professional
in Mark. "
Enquiries:
Media
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Investors/Analysts
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Jonathan Oliver
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+44 (0)20 7548 3537
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Raghu Hariharan
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+44 (0)20 7548 2871
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Tom Willetts
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+44 (0)20 7548 2776
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Richard Gradidge
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+44 (0)20 7548 3860
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William Elderkin
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+44 (0)20 3480 5590
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Notes to Editors:
About Mark FitzPatrick, ACA
Mark Thomas FitzPatrick is the Managing Partner for Clients
and Markets, a current member of the executive committee and a
former member the Board of Deloitte UK. Mr FitzPatrick was a Vice
Chairman of Deloitte for four years, leading the CFO Programme and
developing the CFOTransition labs. Mr Fitzpatrick previously led
the Insurance & Investment Management audit practice and the
insurance industry practice. He has worked with Deloitte for 26
years, building his industry focus on insurance and investment
management globally. Mr Fitzpatrick was seconded to
Prudential as Director of Group Compliance during 2012. Age
49.
About Nic Nicandrou, ACA
Nicolaos
Andreas Nicandrou started his career at PricewaterhouseCoopers.
Before joining Prudential in 2009 as Chief Financial Officer, he
worked at Aviva, where he held a number of senior roles. Since
2015, Mr Nicandrou has been the executive director responsible for
Prudential's African insurance operations. He is also a director of
The Prudential Assurance Company Limited. Age
51.
About Tony Wilkey
Until becoming Chief Executive of Prudential Corporation Asia in
2015, Tony Paul Wilkey was
Chief Executive of Prudential
Corporation Asia's life
insurance operations. Mr Wilkey joined Prudential in 2006
after previously serving as Chief Operating Officer of American
International Assurance (AIA), based in Hong Kong, overseeing AIA's
life companies in South-east Asia. Age 57.
Employment details
Prudential
is committed to full disclosure of the remuneration of its
Executives.
Mark
FitzPatrick's basic salary will be £730,000. He will have a
maximum bonus opportunity of 175% of base salary under the Annual
Incentive Plan. Long-term incentive awards will be 250% of
base salary.
Mr
FitzPatrick has not been appointed for a fixed term but his service
contract contains a notice provision under which either party may
terminate upon 12 months' notice.
Nic
Nicandrou's basic salary will be HK$10,500,000. He will have a
maximum bonus opportunity of 180% of base salary under the Annual
Incentive Plan. Long-term incentive awards will be 250% of
base salary.
Mr
Nicandrou has not been appointed for a fixed term but his service
contract contains a notice provision under which either party may
terminate upon 12 months' notice.
Regulatory disclosures
Save as
disclosed above, there is no further information required to be
disclosed pursuant to Listing Rule 9.6.13(1) - (6) of the Listing
Rules of the Financial Conduct Authority and Rule 13.51(2) of the
Rules Governing the Listing Securities on the Stock Exchange of
Hong Kong Limited. Messrs FitzPatrick, Nicandrou and Wilkey have
confirmed that there are no other matters that need to be brought
to the attention of shareholders of Prudential.
Shareholding details
Nic
Nicandrou has a total beneficial holding of 289,691 shares (0.01%
of the issued share capital).
Mark
FitzPatrick holds no interest in any shares of Prudential under the
meaning of Part XV of the Hong Kong Securities and Futures
Ordinance.
About Prudential plc
Prudential
plc is incorporated in England and Wales, and its affiliated
companies constitute one of the world's leading financial services
groups, serving around 24 million insurance customers, and has
£599 billion of assets under management (as at 31 December
2016). Prudential plc is listed on the stock exchanges in London,
Hong Kong, Singapore and New York. Prudential plc is not affiliated
in any manner with Prudential Financial, Inc., a company whose
principal place of business is in the United States of
America.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Date: 18
May 2017
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PRUDENTIAL
PUBLIC LIMITED COMPANY
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By:
/s/ Alan Porter
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Alan
Porter
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Group
General Counsel and Company Secretary
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