Prudential promotes finance boss Penny James to chief risk role

 
Catherine Neilan
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Prudential: One of the first to make the chief risk officer a board position (Source: Getty)
Prudential is promoting finance director Penny James to the role of group chief risk officer
James, who will also receive a seat on the board, takes the new role on from 1 September. She replaces interim John Foley who had stepped up to the role following the departure of Pierre-Olivier Bouée earlier this summer for Credit Suisse.
Foley will retain his role as group investment director and remains a member of the group executive committee.
James has been at Prudential for four years, during which time she has led Prudential's Solvency II programme and was a member of the group executive risk committee.
She said: "Prudential has a resilient business model and is well positioned to manage the risks presented by the uncertain global environment, but it is vital we remain focused and ready to respond to any emerging threat.”
Group chief executive Mike Wells said: "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."
Chairman Paul Manduca added: "The prudent management of risk is of the highest importance to all large global financial services groups and I am proud that Prudential was one of the first to make the chief risk officer a board position.”

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