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Former FSA chairman Davies joins Pru board

Prudential says it has appointed former FSA chairman Howard Davies and Paul Manduca as non-executive directors.

Davies, director of the London School of Economics, was the first chairman of the FSA from 1997-2003.

Manduca is senior independent director of WM Morrisons. He will quit the role in March 2011.

From January, Manduca will replace James Ross as the board’s senior independent director.

Ross will remain a non-executive director and retire from the board at Prudential’s AGM next May.

Prudential has also appointed Mike Wells as president and chief executive officer of Jackson National Life Insurance Company – Prudential’s US insurance arm – and as an executive director on Prudential’s board from next January.

Wells, who has been with Jackson for 15 years and is currently the vice-chairman and chief operating officer, succeeds Clark Manning, who has decided to step down after spending a total of 15 years with Jackson.

Manning will also leave the board of Prudential in January.

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