Investment director takes up Prudential CEO post full-time

Prudential has appointed John Foley as permanent chief executive of the group’s UK and Europe division.

He has stepped into the role as an interim measure in October last year, and was previously Group Investment Director.

He also held a number of senior roles since joining the FTSE 100 company in 2000, and prior to that was working at National Australia Bank as General Manager, Global Capital Markets.

Group chief executive Mike Wells said Foley has played a huge role in the group's success in recent years.

“He helped to steer the Group through the financial crisis as Chief Risk Officer and has gone on to strengthen our investment oversight as Group Investment Director.

“I am therefore delighted that he has now agreed to lead Prudential UK & Europe.”

The company also highlighted its estimated Group Solvency II surplus at 30 June 2015 was £9.2bn, a solvency ratio of 190%.

“Our Solvency II outcome confirms the strength of the Group's capital position and cash generative nature of our businesses,” said Wells.