British multinational insurance company Prudential announced changes to its risk and compliance leadership in line with the expected retirement of its chief executive, Mike Wells, in March.
James Turner, the company’s current chief risk and compliance officer, will be appointed group chief financial officer. He will succeed Mark FitzPatrick, who will become interim CEO when Wells steps down.
Turner started at Prudential in 2010, becoming director of group finance in 2015. He became chief risk officer and joined the board in 2018 before assuming responsibility for compliance in 2019.
Avnish Kalra, chief risk officer for the company’s Asian and African businesses since 2018, will succeed Turner as chief risk and compliance officer and join the group executive committee. Kalra joined Prudential in 2014.
Turner and Kalra will both continue to be based in Hong Kong.
Prudential is conducting an internal and external search for the company’s next CEO, who will be based in Asia. FitzPatrick, who also serves as chief operating officer, has asked the board not to consider him for the permanent CEO role; he will assist the incoming CEO in completing the transition process, as required, before remaining available to the company as an adviser for an unspecified period.
Prudential is not affiliated in any manner with Prudential Financial in the United States.