Prudential News Update: John Foley Joins Prudential

Prudential welcomes new member

Prudential News Update: John Foley joins Prudential. It has been announced that Mr Foley is to be appointed the new Group Investment Director for Prudential.

The Insurance giant announced that the former Group Chief Risk Officer John Foley would be taking up a new position as the Group Investment Director for the company. The new role will involve Mr Foley being responsible for ensuring a robust overview of the company’s’ financial investments. John has already taken up the post and it has been indicated that he will remain as a member of the Prudential Board and will report to the Chief Executive of the Group Tidjane Thiam.

The position left vacant by John Foley will be taken up by Pierre-Olivier Bouee who moves from his current position of Managing Director CEO and the representative for business in Asia as well as having a seat on the board of the Prudential Corporation in Asia. Pierre-Olivier will report to the Chairman of the Committee for Group Risk, Sir Howard Davis and also to the Chief Executive for the Group.

Speaking of the new appointment Sir Howard said that he thought that the recent appointments showed clearly that the Board were committed to providing effective management of risk and a very strong oversight of the growing global portfolio. He added that he was very much looking forward to working with Pierre-Olivier.

The company’s CEO Tidjane Thiam said that the Prudential Group was experiencing growth and would have to weather the worldwide market volatility that had been caused by the global financial crisis. Because of this he said that he felt that it had been essential to create the new role of Group Investment Director in order to ensure the Group oversight of assets under management. This involves a sum of around four hundred and five billion pounds. He added that he was very happy that John Foley had agreed to take on the role.

Prudential News Update

The new Group Investment Director, John Foley said that he was looking forward to the challenge of the new role and was very proud of the performance of the investments that had been made on behalf of customers, investments that had done well despite the challenging financial climate. He said that he would be aiming to build on this strong performance and to ensure that the money invested on behalf of customers was done so wisely and without any undue risk. He said that he felt pleased with performance but intended to build on this foundation and meet any challenges head on.

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