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Pru promotes finance boss to chief risk officer

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Prudential has named its director of group finance as permanent group chief risk officer.

Penny James succeeds John Foley in the role, who had taken the position on an interim basis following the departure of Pierre-Olivier Bouée.

Bouée stepped down in May, later resurfacing alongside former Pru chief executive Tidjane Thiam at Credit Suisse.

As well as the CRO role, James will join Pru’s board as an executive director from 1 September.

James was previously responsible for delivery of the group’s financial results, business planning and performance monitoring, as well as leading the insurer’s Solvency II programme and sitting on its group executive risk committee.

Following the appointment, Foley will retain his role as group investment director, retaining a seat on the group executive committee.

Pru chief executive Mike Wells says: “I have worked closely with Penny since she joined Prudential four years ago. During this time she has demonstrated a capacity for insightful analysis and counsel, as well as highly effective leadership. I look forward to continuing to work with Penny in her new role.”

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