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Pru United Kingdom chief exits two years after Standard swap

An advertisement of Prudential is seen on top of a building in Hong Kong June 3, 2010.

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Ms Hunt has been at the United Kingdom insurer since early 2013, when she joined from Standard Life where she was finance director.

Chief executive Jackie Hunt is leaving Prudential with immediate effect.

She will be replaced by Group Investment Director John Foley on an interim basis, Prudential said in a statement, giving no further details. Since his arrival he has overseen the appointment of new heads for the Asian and North American businesses and the departure of company’s chief risk officer.

Foley, who will fill the now vacant United Kingdom and Europe chief executive role alongside his current duties until a permanent successor is announced, joined the Prudential in 2000 from the National Australia Bank where he had been general manager of the Global Capital Markets division.

“The business is in good shape, and on behalf of the board I would like to wish her well for the future”. In August, the group posted forecast-beating half-year earnings as operating profit in its United Kingdom life business grew 19 percent.

Hunt’s departure comes after steering Prudential’s United Kingdom arm through a hard period with the business hit by sweeping pension changes unveiled by chancellor George Osborne which damaged sales of lucrative annuity products.

Chairman Paul Manduca added: “Jackie has been an important asset to the group during her time at Prudential, navigating our United Kingdom business through a time of significant change”.

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Prudential shares at 1337 GMT were trading 0.7% lower at 1,499 pence.

UK-PRUDENTIAL-MANAGEMENTCHANGES:Prudential says head of UK Europe unit leaves