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Prudential boss Tidjane Thiam leaves for Credit Suisse

Prudential chief executive Tidjane Thiam is to step down later this year to become the chief executive of Credit Suisse.

Prudential says a successor will be announced shortly.

Thiam joined Prudential as chief financial officer in 2008 and became chief executive in 2009.

He says: “It has been a privilege and a pleasure to lead one of the iconic companies in UK financial services. We have successfully navigated some challenging times, including the global financial crisis, and have emerged with four profitable and strongly cash-generative businesses.

“All of that has been achieved as a result of the dedication and teamwork of the group leadership and our talented people around the world and it has been an honour to lead them.

“I look forward to presenting our 2015 Q1 results in May and attending my final annual general meeting as chief executive shortly thereafter.”

Prudential chairman Paul Manduca says: “Tidjane has been one of the most exceptional leaders in Prudential’s history.

“Although the board will be sorry to see him go, we understand his desire to take on a new challenge and we wish him every success in his new role.

“We have identified a successor and expect to be able to announce a new chief executive once the regulatory approval process has been completed.”

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