Penny was previously Director of Group Finance at Prudential, responsible for the delivery of the Group’s financial results, business planning and performance monitoring. In that role, she also led Prudential’s Solvency II programme and was a member of the Group Executive Risk Committee.
She succeeds John Foley, who had taken on the additional role of Group Chief Risk Officer in June on an interim basis, following the departure of Pierre-Olivier Bouée. Mr Foley retains his role as Group Investment Director and remains a member of the Group Executive Committee.
Mike Wells, Group Chief Executive of Prudential, said:
“At Prudential, we are privileged to have both strength and depth in our leadership team. It therefore gives me great satisfaction that since I became Group Chief Executive in June, every one of the senior appointments we have announced has gone to an internal candidate of the highest calibre. I have worked closely with Penny since she joined Prudential four years ago. During this time she has demonstrated a capacity for insightful analysis and counsel, as well as highly effective leadership. I look forward to continuing to work with Penny in her new role.”
Paul Manduca, Chairman of Prudential, commented:
“I am delighted to welcome Penny to the Board. The prudent management of risk is of the highest importance to all large global financial services groups and I am proud that Prudential was one of the first to make the Chief Risk Officer a Board position. Penny’s appointment, which follows an internal and external search, demonstrates once again the value of the Board’s rigorous succession planning process.”
Penny James added:
“Prudential has a resilient business model and is well positioned to manage the risks presented by the uncertain global environment, but it is vital we remain focused and ready to respond to any emerging threat. I look forward to working with both the Board and the executive leadership team as we continue to deliver both products that are valued by our customers and profitable growth for our investors, within a balanced risk appetite.”
