Yahoo Finance Prudential finance chief resigns following investigation into conduct
Prudential’s finance chief has quit the FTSE 100 insurer following an investigation into his conduct surrounding a “recruitment situation”.
The company said James Turner, who took up the role just over a year ago, fell short of its standards, but did not give further details about the incident.
Mr Turner will be replaced by Ben Bulmer, currently the finance chief of Prudential’s insurance and asset management business.
Prudential said that Mr Turner will remain “available” to the insurer for four months to support a “smooth transition”.
It comes after the company appointed external lawyers to investigate Mr Turner’s behaviour after concerns were raised about a “recent recruitment situation”.
Anil Wadhwani, Prudential’s chief executive, said: “Our code of conduct sets out that we expect all our colleagues to adhere to the highest professional standards and behaviours. On behalf of the board, I would like to extend our gratitude to James for his twelve years of contribution to the business and wish him well for the future.”
Prudential said that Mr Turner’s departure has no implications for the firm’s financial performance, reporting or operations.
The insurer is listed both in Hong Kong and London but has pivoted its focus towards Asia in recent years.
Last year, the company severed some of its last remaining ties to the UK by moving all of its senior executives to Asia following the resignation of longstanding boss Mike Wells.
Prudential has not had business operations in Britain since spinning off its UK and European arm into a separate London-listed company, M&G plc, in 2019.
It also completed the sale of its US business Jackson in recent years as part of a wider shift in focus to Asia following pressure from activist investors.
The sudden departure of Mr Turner, who is based in Hong Kong, comes early in Mr Wadhwani’s leadership reign, after he over as chief executive in late February.
