London-headquartered Prudential’s chief financial officer has resigned from the insurer following a code of conduct investigation.
Prudential’s Hong Kong-based CFO James Turner has resigned, according to an exchange filing. He will be replaced by Ben Bulmer, 26-year Prudential veteran and financial chief of the firm’s insurance and asset management arm.
Turner will stay on for another four months to support the transition.
Turner spent 12 years with Prudential and previously also worked at Barclays and UBS.
Conduct Investigation
According to the filing, an internal code of conduct investigation found that Turner had fallen short of standards during a recent recruitment process which was not completed, though no specific details about the misconduct were disclosed. Prudential’s board was notified of the matter in mid-March before appointing a law firm to lead the investigation.
«The group sets itself high standards and Mr. Turner fell short on this occasion,» Prudential said, adding that there were no implications to the Asia-focused insurer’s financial performance, results or operation.
