UK-founded insurer Prudential has made another move towards its Asia-focused future by nominating Anil Wadhwani as its new chief executive. The former head of rival Manulife’s operations in the region will join the 174-year-old firm in February 2023. The fact he is already based in Hong Kong will make life easier for Chair Shriti Vadera as Prudential has been overseen by the Asian hub’s regulator since 2019. Hong Kong’s harsh quarantine restrictions have however removed it from most executives’ travel itineraries and Prudential had said only that candidates should be based in the region.
operations in the region will join the 174-year-old firm in February 2023. The fact he is already based in Hong Kong will make life easier for Chair Shriti Vadera as Prudential has been overseen by the Asian hub’s regulator since 2019. Hong Kong’s harsh quarantine restrictions have however removed it from most executives’ travel itineraries and Prudential had said only that candidates should be based in the region.
The appointment, a day ahead of Prudential’s annual meeting, should blunt shareholder grumbling over the slow process given that Wadhwani’s permanent predecessor, Mike Wells, had long been expected to retire after completing the reshaping in September that left the group focused on Asia. Investors can then fixate on the longevity of its
given its Asian future. A September fundraising in Hong Kong has so far done little to boost trading volumes. Shareholders shouldn’t expect another move eastwards, just yet.
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