Prudential appoints James Turner as chief risk officer

Prudential has appointed James Turner as group chief risk officer and as an executive director with immediate effect, succeeding Pat Casey, who is retiring from the company.

Turner, who joined the FTSE 100 insurer and asset management in 2010 as the director of internal audit, was previously director of Group Finance, responsible for the delivery of the financial results, business planning and performance monitoring. He also led Prudential's Solvency II development and was responsible for the group tax function.

Pat became group chief risk officer on an interim basis in September 2017 following the departure of Penny James.

Chief executive Mike Wells said: "I am delighted that James is taking up this role. The prudent management of risk is of the highest importance to all large global financial services groups. Having worked with James for several years, I know that his capacity for insightful analysis, counsel and highly effective leadership will put us in a strong position to continue managing the risks we face in a rapidly changing global environment. I would also like to take this opportunity to thank Pat Casey for his contribution to the group over the past 14 years and wish him well in his retirement."

Turner said: "Prudential has a successful business model that is focused on delivering products and services that are valued by our customers and are profitable for our investors. Given the uncertain and changing global landscape we face, I look forward to working with both the board and the executive leadership team to ensure that Prudential is ready to respond nimbly to emerging threats and can continue delivering long-term value for all our stakeholders."

At 0945 GMT, the shares were down 0.1% to 1,829p.