Tidjane Thiam, group chief executive at Prudential plc, a London-based publicly traded insurance company, will step down this year from his role as CEO and from the board to join Credit Suisse as CEO.

When Mr. Thiam was named Prudential's CEO in 2009, he became the first black chief executive of an F.T.S.E. 100 company.

Paul Manduca, chairman of Prudential, said, “Tidjane has been one of the most exceptional leaders in Prudential's long and illustrious history. From leading the group through the financial crisis at the end of the last decade, first as CFO and then as CEO, to shaping an Asia-focused strategy that has seen Prudential grow into an ever more successful U.K.-based financial services business, he has been a great servant to the company and all its stakeholders in his seven years on our board.

“Although the board will be sorry to see him go, we understand his desire to take on a new challenge with another global leader in a different part of the financial services sector, headquartered in Switzerland, and we wish him every success in his new role.

Mr. Thiam said, “It has been a privilege and a pleasure to lead one of the iconic companies in U.K. financial services. We have successfully navigated some challenging times, including the global financial crisis, and have emerged with four profitable and strongly cash-generative businesses.

“Prudential in Asia has more than doubled in size and profitability since 2009 and is a clear leader in insurance in the world's most populous and dynamic region. In the U.S., Jackson National Life has become market leader in variable annuities while diversifying its product mix and remitting substantial cash to the Group.

“Our traditional U.K. life business has performed robustly, while M&G has grown into one of the largest and most successful asset managers in Europe.

“All of that has been achieved as a result of the dedication and teamwork of the group leadership and our talented people around the world and it has been an honor to lead them. There are no words that could adequately express my gratitude to Prudential's people.”

Victoria Spears

Victoria Spears

Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].

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