Prudential names Manulife Asia CEO as its next top executive
- Anil Wadhwani, a former Citigroup and Manulife executive, will be based in Hong Kong as part of insurer’s shift to Asia
- Wadhwani will exceed former Prudential CEO Mike Wells in February
Prudential has named Anil Wadhwani, the former CEO of Manulife Asia, as its next top executive and said he will be based in Hong Kong, the latest step in its transformation and greater reliance on Asia.
Wadhwani, who spent 25 years with Citigroup before joining Manulife, will succeed recently departed CEO Mike Wells on February 25 next year. Interim CEO Mark FitzPatrick will continue to lead the business in the meantime and will support Wadhwani in his transition, the company said.
Wadhwani, 53, has a wide range of experience, working in Mumbai, Singapore, London, New York and nearly five years in Hong Kong. His appointment is subject to regulatory approval.
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The shift of its CEO to Hong Kong is an important milestone in the ongoing transformation of the London-based insurer. It also is symbolic for the city, whose economy has been battered in recent months by a fifth wave of coronavirus cases and has faced criticism over its restrictive “zero Covid” policy to try to control the spread of the virus.
In recent years, Prudential has shifted its focus to primarily providing life and health insurance and asset management services in Asia and Africa, spinning off its UK and European retirement business in 2019 and its US retirement arm last year.
