Rob Devey to be new Chief Executive of Prudential UK and EU

Deveyâs will take over Prudential UK and Europe from Lloyds Banking group where he has worked since 2002. His roles in Lloyds cover both the insurance and retail banking, and he has occupied positions including Managing Director, Direct Channels UK Retail Banking, Managing Director of HBOS Financial Services and Managing Director of HBOS General Insurance. Prior to joining Lloyds, Devey was at the Boston Consulting Group as a financial consultant in Europe and U.S.

The Group Chief Executive of Prudential plc, Mark Tucker said, "I am pleased to announce the appointment of Rob Devey as successor to Nick Prettejohn. Rob has clearly demonstrated his capability in complex leadership roles and I look forward to welcoming him to the Group.â

The incoming Chief Executive Devey commented upon his appointment, "I greatly look forward to joining Prudential at this exciting time in its development. The Group is ideally placed in both the UK and international markets to continue its strong performance.â

Devey is expected to take over the role of Chief Executive of Prudential UK and Europe at a date to be confirmed following the departure of Prettejohn in September 2009.

The share price of Prudential plc dropped from 413.5 at the close yesterday to 405 at 11:30 am BST.