Prudential Plc reveals 2021 chair

Paul Manduca says that successor will prove to be "an excellent choice"

Prudential Plc reveals 2021 chair

Insurance News

By Terry Gangcuangco

Eleven months from now, Prudential Plc will have a new chair in the form of former government minister and current Santander UK chair Shriti Vadera. 

Ahead of her January 01, 2021 appointment to succeed Paul Manduca, Vadera will be added to the British insurance giant’s board as a non-executive director effective May 01 this year. Currently she also serves as senior independent director at mining firm BHP Group Plc. 

“It is an honour to be asked to join the board and to become chair next year,” stated Vadera, who will step down from her Santander UK and BHP Group roles before taking on Manduca’s post.

“Prudential combines the highest standards of governance with a strong brand and a dynamic business model. I look forward to working with colleagues and other stakeholders as Prudential continues to focus on fast-growing markets in Asia.”

Vadera’s predecessor, who came onboard in 2010, has been chair since 2012. Manduca described his incoming replacement as “an excellent choice for the future chair,” adding that he looks forward to working with Vadera on the board and during the transition.

“I am delighted that we have secured such a high-calibre individual,” commented senior independent director Philip Remnant, who led the appointment process for the new chair.

“Shriti Vadera was the unanimous choice of the board following a rigorous assessment of external and internal candidates from around the world. She has senior boardroom experience at complex organisations with extensive international operations, and strong strategic and financial services experience.”

Vadera, whose career began in investment banking at SG Warburg/UBS in 1984, was a minister from 2007 to 2009 in the Department for International Development, Cabinet Office, and Department for Business, Innovation & Skills. She was appointed chair of Santander UK in 2015 and was chair of the European Financial Services Chairmen’s Advisory Committee from June 2016 to January last year.

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