Prudential appoints Mike Wells as new CEO

1st May 2015 13:02

FTSE 100 insurance group Prudential has appointed Mike Wells as its new chief executive from 1 June.Wells, who currently heads the group's US subsidiary Jackson National Life Insurance, will replace outgoing CEO Tidjane Thiam, who announced in March that he would be joining Swiss banking giant Credit Suisse."Mike has an outstanding track record," said Thiam."I have enjoyed working with him for the last seven years and I am pleased to be leaving Prudential in the hands of such an experienced leader."Wells, who joined Jackson in 1995, praised his predecessor work and said he was looking forward to begin in his new role."I look forward to working with our talented and dedicated teams around the world to strengthen the group even further," he said.The London-listed group's profits rose 14% to £3.2bn last year.Prudential shares down 0.49% to 1,621.00p at 13:18.