Prudential appoints Penny James as chief risk officer, executive director

10th Aug 2015 10:48

(ShareCast News) - Insurer Prudential has appointed Penny James as chief risk officer and as an executive director with effect from 1 September.James was previously director of group finance at Prudential and led the company's Solvency II programme. She was also a member of the Group Executive Risk Committee.She replaces 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 Bouee. Foley will remain in his role as group investment director and will stay on as a member of the Group Executive Committee.Prudential's chairman, Paul Manduca, said: "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."At 1052 BST, Prudential shares were down 1.9% at 1,499.50p.