Prudential PLC Appoints Mike Evans as M&G Prudential Chairman -- Update

By Adam Clark

Prudential PLC (PRU.LN) said Monday that it has appointed Mike Evans as chairman of its M&G Prudential business as it prepares to split the U.K.-and-European unit from its faster-growing international operations.

The FTSE 100 insurer said Mr. Evans has joined the M&G Prudential board with immediate effect, having already received regulatory approval for the appointment.

Prudential said in March that it would split its operations to create an independent savings-and-investment provider in the U.K. and Europe, currently under the name M&G Prudential. Prudential PLC will continue to focus on high-growth opportunities in Asia, the U.S. and Africa.

The timeline for the demerger is yet to be determined, but Prudential has said both businesses will remain headquartered in the U.K. Both separate entities are expected to be FTSE 100 members.

Mr. Evans was formerly chief operating officer of Swedish insurer Skandia, and is currently chairman of Just Eat PLC (JE.LN).

Earlier on Monday, Chesnara PLC (CSN.LN) said Mr. Evans is stepping down as an independent director in order to take up the M&G Prudential appointment.

Mr. Evans will work alongside M&G Prudential's chief executive, John Foley. Prudential said further appointments to the board of M&G Prudential will be made in due course.

Write to Adam Clark at [e-mail]; @AdamDowJones

(END) Dow Jones Newswires

October 01, 2018 06:13 ET (10:13 GMT)

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