– UK, London – Prudential plc today announces the appointment of Lord Turner of Ecchinswell and David Law as non-executive directors. Lord Turner and Mr Law will join the Board with immediate effect.
Lord Turner has been appointed a member of the Risk Committee and Mr Law has been appointed a member of the Audit Committee.
Lord Turner has extensive high-level experience of international regulation and financial services. He has served as the Chairman of the UK’s Financial Services Authority, as a member of the international Financial Stability Board, as a non-executive director of the Bank of England and as the Director-General of the Confederation of British Industry. He is currently Chairman of the Institute for New Economic Thinking and a non-executive director of OakNorth Bank.
Mr Law has a detailed understanding of the audit processes of global insurance groups. He was the Global Leader of PwC’s insurance practice, a Partner in PwC’s UK firm and worked as the Lead Audit Partner for multinational insurance companies until his retirement on 30 June 2015. He has also been responsible for PwC’s insurance and investment management assurance practice in London and the firm’s Scottish assurance division. He is currently a Director of L&F Holdings Limited and Chief Executive of L&F Indemnity Limited, the professional indemnity captive insurance group that serves the PricewaterhouseCoopers network.
Commenting on the appointments, Paul Manduca, Chairman of Prudential, said: “I am delighted that Lord Turner and David Law are joining the Board. Lord Turner’s distinguished career has given him considerable expertise in global financial services, particularly in regulation and risk management. David Law is highly respected in the international insurance community and brings with him a wealth of experience of the audit processes of global insurance groups.”
About Lord Jonathan Adair Turner
Lord Turner is Chairman of the Institute for New Economic Thinking, a Visiting Professor at both the London School of Economics and the Cass Business School, and a Visiting Fellow at Nuffield College, Oxford University. He is also a non-executive director of OakNorth Bank. Lord Turner began his career with McKinsey & Co, where he advised companies across a range of industries. He has served as Director-General of the Confederation of British Industry, Vice-Chairman of Merrill Lynch Europe, Chairman of the Pensions Commission and a non-executive director of Standard Chartered Bank. Lord Turner was Chairman of the UK’s Financial Services Authority, a member of the international Financial Stability Board and a non-executive director of the Bank of England between 2008 and 2013. He became a crossbench member of the House of Lords in 2005. He studied History and Economics at Gonville and Caius College, Cambridge. Age 59.
About David John Alexander Law, ACA
David Law is a Director of L&F Holdings Limited and Chief Executive of L&F Indemnity Limited, the professional indemnity captive insurance group that serves the PricewaterhouseCoopers network. His career began at PwC, where he worked in a variety of roles in Switzerland, Hong Kong and the United Kingdom. He was the Global Leader of PwC’s insurance practice, a Partner in PwC’s UK firm and worked as the Lead Audit Partner for multinational insurance companies until his retirement on 30 June 2015. He has also been responsible for PwC’s insurance and investment management assurance practice in London and the firm’s Scottish assurance division. Mr Law is a qualified chartered accountant and studied Economics at the University of Edinburgh. Age 55.
About Prudential plc
Prudential plc is incorporated in England and Wales, and its affiliated companies constitute one of the world’s leading financial service groups serving around 25 million insurance customers and it has £505 billion of assets under management (as at 30 June 2015). Prudential plc is listed on the stock exchanges in London, Hong Kong, Singapore and New York. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
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