Prudential Plc operates as a holding company with interest in providing insurance and financial services. The company as an international financial services group with its principal operations in Asia, the U.S. and the United Kingdom, offers retail financial products and services and asset management services throughout these territories. Its retail financial products and services principally include life insurance, pensions and annuities, as well as collective investment schemes. The company operates through the following business units: Prudential Cop. Asia, Jackson National Life Insurance Co., Prudential UK and M&G. The Prudential Corp. Asia business unit comprises of its life insurance operations in Asia and its asset management business. The Jackson National Life Insurance Co. business unit provides retirement savings and income solutions and also provides total annuities, variable and fixed index annuities in the U.S. The Prudential UK business unit is engaged in the life insurance and pension businesses. The M&G business unit is engaged in UK and European fund management business. Prudential was founded on May 30, 1848 and is headquartered in London, the United Kingdom.
As President and Chief Executive Officer, Mike Wells is responsible for the day-to-day operations of Jackson National Life Insurance Company as well as its U.S. affiliates and for overseeing the development of business strategy. He is also a board member of Jackson's parent company, Prudential plc, based in London, England.
Wells, named CEO late last year, was part of the Michigan-based company's executive team that recently selected Cool Springs as the site for a new regional headquarters that will soon employ more than 700 people. Previously, he served as Jackson's Chief Operating Officer and head of the company's distribution operations.
Jackson National is a subsidiary of the same parent company that owns Prudential Corporation Asia, one of Asia's largest insurance companies and the company that Lipscomb alum Barry Stowe serves as CEO from his base of operations in Hong Kong.
The company also has offices in Denver, Santa Monica, Chicago, Tampa and Appleton, Wisconsin. Plans for the new office in Nashville were announced on May 26, 2010. Jackson markets its products in 49 states and the District of Columbia through independent and regional broker-dealers, financial institutions and independent insurance agents.
Wells has a B.S. from San Diego State University. He recently moved his family to a farm in Leiper's Fork, Tennessee from their previous home in California.
Paul Manduca, Chairman
Paul Manduca has been an independent non-executive director of Prudential since October 2010 and succeeded Harvey McGrath as Chairman and Chairman of the Nomination Committee on 2 July 2012. Prior to his appointment as Chairman, Paul was the Senior Independent Director and a member of the Nomination Committee (January 2011 – June 2012), and a member of the Audit and Remuneration Committees (October 2010 – June 2012)
Paul was a non-executive director of Wm Morrison Supermarkets Plc (Morrisons) from September 2005 until March 2011. During that time, he was the Senior Independent Director, a member of the Nomination Committee and Chairman of the Remuneration Committee of Morrisons, and prior to that he chaired the Audit Committee of Morrisons. He is also Chairman of Aon Limited (expected to step down later in 2012), a non-executive director and Chairman of the Audit Committee of KazmunaiGas Exploration & Production Plc (until the end of September 2012), Chairman of Henderson Diversified Income Limited and Chairman of JPM European Smaller Companies Investment Trust Plc. Paul was the Senior Independent Director and Chairman of the Audit Committee of Development Securities plc until March 2010, Chairman of Bridgewell Group plc until 2007 and a director of Henderson Smaller Companies Investment Trust plc until 2006. Prior to that, he was European CEO of Deutsche Asset Management from 2002 to 2005, global CEO of Rothschild Asset Management from 1999 to 2002 and founding CEO of Threadneedle Asset Management Limited from 1994 to 1999 when he was also a director of Eagle Star and Allied Dunbar. Paul is a member of the Securities Institute.
Tidjane Thiam, Chief Executive Officer
Tidjane Thiam has been an executive director of Prudential since 25 March 2008. He was the Chief Financial Officer until 30 September 2009 and became Group Chief Executive with effect from 1 October 2009.
Tidjane spent the first part of his professional career with McKinsey & Company in Paris and New York, serving insurance companies and banks. He then spent a number of years in Africa where he was Chief Executive and later Chairman of the National Bureau for Technical Studies and Development in Cote d'Ivoire and a cabinet member as Secretary of Planning and Development. Tidjane returned to France to become a partner with McKinsey & Company and one of the leaders of their Financial Institutions practice before joining Aviva in 2002. He worked at Aviva until 2008, holding successively the positions of Group Strategy and Development Director, Managing Director of Aviva International, Group Executive Director and Chief Executive Officer, Europe.
Tidjane was a non-executive director of Arkema in France until November 2009. He is a member of the Board of the Association of British Insurers (ABI) and on 3 July 2012 he was appointed as Chairman. He is a member of the Council of the Overseas Development Institute (ODI) in London, a member of the Africa Progress Panel chaired by Kofi Annan and a sponsor of Opportunity International. In January 2011, he was appointed to chair the G20 High Level Panel for Infrastructure Investment, which reported to the G20 Leaders at the G20 Summit in Cannes in November 2011. Tidjane is a member of the UK-ASEAN Business Council and of the Strategic Advisory Group on UK Trade and Investment. In January 2012, Tidjane was appointed to the Prime Minister’s Business Advisory Group. Tidjane was awarded the Légion d'Honneur by the French President in July 2011.
Nic Nicandrou, Chief Financial Officer
Nic Nicandrou has been an executive director of Prudential and Chief Financial Officer since October 2009. Before joining Prudential, he worked at Aviva, where he held a number of senior finance roles, including Norwich Union Life Finance Director and Board Member, Aviva Group Financial Control Director, Aviva Group Financial Management and Reporting Director and CGNU Group Financial Reporting Director. Nic started his career at PriceWaterhouse Coopers where he worked in both London and Paris.