M&G Prudential hires Mike Evans as chair to oversee demerger

1st Oct 2018 11:49

(Sharecast News) - Just Eat's Mike Evans has been named chairman of M&G Prudential, as the British savings and investment business gears up to be spun out of insurance giant Prudential.In March, the blue chip announced plans to demerge M&G Prudential, creating two separately listed businesses and allowing it to focus on its faster-growing operations in Asia and America.The long-speculated move was broadly welcomed by the market, with analysts arguing it would give both businesses greater focus.Evans, 57, is currently chairman of online food order service Just Eat, but has spent the bulk of his career in financial services, including over a decade at Hargreaves Lansdown, where he was chairman. He has also served on the board of insurer esure and ZPG, owner of property brand Zoopla.Evans called it an "exciting" time to be joining M&G Prudential, which he called "a strong business with lots of opportunities for growth in the UK and international savings and investment markets."Paul Manduca, Prudential chairman, said: "I am pleased that Mike Evans has been appointed as chair of M&G Prudential. His extensive boardroom experience and track record with UK listed businesses will be great assets during the demerger and when M&G Prudential becomes an independent company."M&G Prudential was created last year, when Prudential merged its UK life business with M&G, its UK-based fund manager.The business has assets under management of £341bn.