skip to content

Bids, Mergers and Takeovers

Prudential to combine UK businesses

10 August 2017 09:49

Prudential has revealed plans to combine its asset manager M&G with Prudential UK & Europe to form M&G Prudential.

The company said this would create a leading savings and investments business positioned to target growing customer demand for comprehensive financial solutions.

The combined business manages £332 billion of assets for over 6 million customers, both in the UK and internationally, having quadrupled its total external assets since 2008.

The group said the new entity will combine M&G's active investment expertise with Prudential UK&E's capabilities in volatility-adjusted savings and liability-driven investment to provide more choice for customers across both brands through retail, institutional and direct channels.

John Foley, currently chief executive of Prudential UK&E, will become chief executive of M&G Prudential and remains a member of the Prudential plc board.

Anne Richards will remain chief executive of M&G and a member of the Prudential plc board.

Both Richards and Clare Bousfield, CEO insurance for Prudential UK&E, will become deputy chief executives of M&G Prudential. Foley said: "Prudential UK&E and M&G both offer well designed solutions which help investors meet their most important financial goals. Combining their complementary strengths allows us to provide greater choice to a wider range of customers."

At 9:49am: (LON:PRU) Prudential PLC share price was -23.5p at 1818p

Story provided by

Related Company: PRU

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Bluezest Aviva Aberdeen

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.