New executive appointments at M&G plc

M&G plc today announces that Clare Bousfield is appointed Managing Director, Retail & Savings, with effect from 1 October 2021, subject to regulatory approval.

In this newly-created role, Ms Bousfield will lead the expansion of M&G Wealth in the UK, and complete the transformation of the Prudential-branded operations to improve customer outcomes and generate business efficiencies.

Ms Bousfield will hand over her responsibilities as Chief Financial Officer to the Deputy CFO, Paul Cooper, who will act on an interim basis while M&G conducts a search for a replacement, and given the expected time commitments of her new role and her regulatory responsibilities with respect to Prudential Assurance Company Limited she will also step down from the PLC Board.

John Foley, Chief Executive, comments: “Clare is the ideal leader to bring fresh impetus to this part of our business, given her financial insight, knowledge of the operations and strong relationships.

“This appointment and a number of other leadership changes I am making today position us well for the next phase of M&G’s ambitions and our strategy to return to sustainable growth.”

Retail & Savings consists of M&G Wealth and the Heritage Business, which includes the Prudential-branded operations in UK and Europe.

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Notes to editors

OpenM&G Biographies

Clare Bousfield

Clare joined the Prudential group in November 2016 as Chief Executive Officer of The Prudential Assurance Company. Previously she was at insurer Aegon, where she was Chief Financial Officer and led the strategic review and transformation of Aegon’s UK business. She is also a Non-Executive Director of RSA Group.

Paul Cooper

As Deputy CFO, Paul has responsibility for the planning, implementation, managing and running of the finance activities of the company. Paul also serves as CFO for The Prudential Assurance Company. He joined the business from Arrow Global, a FTSE 350 financial services company, where he was Global CFO and responsible for all aspects of finance including financial, regulatory and management reporting, finance strategy, FP&A, treasury, tax and investor relations. The early part of his career was spent at PwC and EY.

OpenAbout M&G plc

M&G plc is an international savings and investments business, managing money for around 5 million retail customers and more than 800 institutional clients in 28 markets. As at 30 June 2021, we had £370 billion of assets under management and administration.

With a heritage dating back more than 170 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. We serve our savings and insurance customers under the Prudential brand in the UK and Europe and for asset management in South Africa, and under the M&G Investments brand for asset management clients globally.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority. M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.