Pru’s chief executive UK & Europe steps down

by Gill Montia

Story link: Pru’s chief executive UK & Europe steps down

Prudential has announced that Nick Prettejohn, chief executive for the UK and Europe, is departing in September after serving three-and-a-half years on the board.

Prior to joining the life and pensions provider, Mr Prettejohn held the post of chief executive of Lloyd’s of London, having joined the Corporation of Lloyd’s in 1995 as head of strategy.

He will be replaced by Rob Devey, currently of Lloyds Banking Group, who will be employed on a basic salary of £550,000.

Commentators have linked Mr Prettejohn’s departure to the appointment of Pru finance director, Tidjane Thiam, as group chief executive, replacing Mark Tucker who is stepping down in September.

Incomer, Rob Devey is currently managing director for direct channels at Lloyds Banking Group, having worked for the bank since 2002.

He has held a number of senior leadership roles in insurance and retail banking including managing director of HBOS financial services and managing director of HBOS general insurance.

Prior to joining HBOS, Mr Devey was a consultant with the Boston Consulting Group in both Europe and the US working in financial services.