Prudential names ex-Citi banker Anil Wadhwani as its next chief exec

Prudential drafts in ex-Citi banker Anil Wadhwani to become its new Hong-Kong-based chief exec

Ex-Citi banker Anil Wadhwani will be the first Prudential chief exec to be based in Asia and not Londo

Prudential has drafted in ex-Citi banker Anil Wadhwani to lead its business out of Hong Kong from 2023, as it pivots further away from the UK.

Wadhwani, 53, joins next February and is the first chief executive to be based in Asia and not London. He will earn a £1.25million salary but can double that in bonuses.

This year the Pru said Mike Wells would step down as chief executive, to be replaced on an interim basis by chief financial officer Mark FitzPatrick, who is now leaving ‘to seek opportunities outside the group’.

Wadhwani has spent most of his career in Asia, most recently as leader of Canadian insurer Manulife’s Asia business in Hong Kong. 

He also spent 25 years at Citi in consumer finance roles.

The Pru is solidifying its operations in Asia, a far cry from its roots in London. 

Founded in 1848 to sell loans, it today has its sights on selling insurance and asset management services to 6billion people in Asia and Africa.