Prudential makes internal CFO appointment after Turner resignation

(Sharecast News) - Prudential announced the appointment of Ben Bulmer as its new chief financial officer on Wednesday, pending regulatory approval. The FTSE 100 company said Bulmer, currently the CFO of insurance and asset management, would bring much experience to his new role.

He had been with Prudential since 1997, having held various leadership positions within the finance function in Asia and London.

As CFO, Bulmer would become a member of the group executive committee and report directly to chief executive Anil Wadhwani, while continuing to be based in Hong Kong.

The board said the appointment of Bulmer followed the resignation of James Turner, who stepped down as CFO after an investigation into a code of conduct issue related to a recent recruitment situation.

Prudential said Turner's actions were deemed inconsistent with its "high standards".

Turner would, however, remain available to the group for a period of four months to ensure a smooth transition.

Prudential said there were no implications for its financial performance, reporting, or operations resulting from the CFO transition.

"I am delighted to appoint Ben as chief financial officer," said chief executive officer Anil Wadhwani.

"Ben is a highly-experienced finance leader who has developed a deep understanding of our business and markets during his 26 years at Prudential, including in his role as CFO at Prudential Hong Kong's life insurance businesses and in central finance roles in the group.

"Our code of conduct sets out that we expect all our colleagues to adhere to the highest professional standards and behaviours."

Reporting by Josh White for Sharecast.com.