Prudential Reshuffles Regional Roles Following Departure
London and Hong Kong-headquartered Prudential has announced the reshuffling of some regional roles in Asia following the resignation of a senior executive.
Solmaz Altin, Prudential’s regional CEO for growth markets, health and agency, will resign and return to Europe, according to a statement, citing a desire for his children to «complete their critical schooling years closer to family». Moving forward, he will remain as an advisor to the insurer. As a result of Altin’s resignation, group executive committee (GEC) responsibilities will be reshaped with two new regional roles being created.
«Firstly, I’d like to express my sincere gratitude to Solmaz for his impactful contribution to Prudential. In his three years with us,» commented CEO Anil Wadhwani.
«Solmaz has been driving the growth and profitability of his 15 markets, most visible in the turnaround of our business in Indonesia. He has been instrumental in developing and implementing the company’s transformation strategy, including leading our technology transformation. Solmaz has also made a significant impact setting up our Health business and reinvigorating our Agency capability.»
Two Regional CEOs
The outcome includes the appointment of John Cai as regional CEO for Malaysia, Indonesia and Vietnam and agency as well as GEC member, effective April 7. Based in Hong Kong, he will report to Wadhwani. Cali has 20 years of insurance experience across Asia, previously as group regional chief executive of AIA with responsibilities for China Vietnam, Malaysia, Taiwan and Myanmar, and CEO of AXA Hong Kong.
«In John, we have hired a true industry expert. The wealth and breadth of his experience will be a real asset to us and we look forward to welcoming him to the business,» Wadhwani added.
A new regional CEO for India, Africa, Philippines, Cambodia, Laos and Myanmar, with responsibility for health, will be announced in due course. Dennis Tan will continue as regional CEO for Singapore and Thailand with responsibility for partnership distribution while Angel Ng will remain the regional CEO for Greater China with responsibility for customer and wealth.
