Prudential Plc, the U.K.’s biggest insurer, hired Standard Life Plc Chief Financial Officer Jackie Hunt to run its U.K. and Europe division.
Hunt, 44, replaces Rob Devey, who will leave the company in October, Prudential said today in a statement. She could earn more than 3 million pounds ($4.6 million) in salary, bonus and long-term incentives, Prudential said. Standard Life, Scotland’s biggest insurer, is yet to appoint a replacement for Hunt, the Edinburgh-based company said in a separate statement.
“Jackie joins Prudential with a proven track record of delivery in the highly competitive U.K. insurance market,” Prudential Chief Executive Officer Tidjane Thiam said in the statement. “I am delighted that a person of her talent and experience is joining the group.”
London-based Prudential earned about 24 percent of its operating profit from the U.K. last year, while the bulk of its income comes from Asia. Thiam was reprimanded by the Financial Services Authority last month for failing to notify the regulator of his planned bid for Asian insurer AIA Group Ltd. in 2010.