Insurance giant Prudential gets new boss Mike Wells to succeed Tidjane Thiam
INSURANCE giant Prudential has chosen the boss of its US business, Mike Wells, to succeed Tidjane Thiam as chief executive.
Tidjane Thiam is moving from Pru to Credit Suisse
Wells, 55, who heads Pru's Jackson National Life, has been on the board for four years and takes over on June 1.
Thiam is moving to head Credit Suisse.
Wells' salary will be just over £1million but he could earn up to £2million in bonuses while long-term incentive awards will be 400 per cent of his base salary.
He said: "The group is in excellent shape, not least because of the remarkable leadership of my predecessor."