Prudential’s Asia boss quits amid rapid expansion in China


Mr Nicandrou has been in the finance role since 2009, keeping the job despite a management reshuffle two years ago “where almost all the business heads moved roles with the sole exception of the well regarded CFO”, Mr Cornes said. 

Group chief executive Mike Wells said that Mr Nicandrou had “proven himself” over the years and will lead the Asia unit to “further success”.

The news coincided with the group’s annual general meeting and first quarter results, the latter of which highlighted how much its Asia business contributes to overall profits as its gamble on Asia’s rising middle class continues to pay off. 

New business profit across Asia surged 26pc for the first three months of the year, driven by activity in China, the company said, while its UK asset management arm M&G posted a 5pc boost in assets under management to £144bn and net inflows of £3.6bn.