Prudential’s Bouee to Leave, First Senior Departure Since Thiam

Prudential Plc Chief Risk Officer Pierre-Olivier Bouee is leaving the British insurer after seven years, the first senior departure since Tidjane Thiam resigned to take the helm at Credit Suisse Group AG.

Bouee, 44, will step down from the board at the end of this month and will continue as CRO until June 30, Prudential said Tuesday. His replacement has yet to be announced. A spokesman declined to comment on his plans.

The Frenchman’s career has closely followed that of Prudential Chief Executive Officer Thiam, who will join Credit Suisse next month. They both moved to the insurer in 2008 from Aviva Plc where they had worked together for about four years. Bouee started his career in the French Treasury before joining McKinsey & Co. in 2000 as a consultant where Thiam also worked.

“I have decided now is a good time to seek a new challenge,” said Bouee in the statement. “It has been a privilege to work at Prudential, during which time the group has grown profitably to become one of the world’s leading financial services businesses.”

Thiam, 52, is taking over from Brady Dougan who is stepping down at the end of June. Mike Wells, who has been in charge of the insurer’s Jackson National Life unit in the U.S. since 2010, was appointed new group CEO.

Bouee joined Thiam and other executives in selling shares last week after the insurer reported first-quarter results. He sold about 530,000 pounds ($830,000) of the company’s stock, while Thiam sold 5.7 million pounds.

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