{"id":159187,"date":"2023-05-31T08:00:00","date_gmt":"2023-05-31T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=919093"},"modified":"2023-05-31T08:00:00","modified_gmt":"2023-05-31T00:00:00","slug":"cfo-out-at-pru-after-code-of-conduct-failure","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/05\/31\/cfo-out-at-pru-after-code-of-conduct-failure\/","title":{"rendered":"CFO out at Pru after \u201ccode of conduct\u201d failure"},"content":{"rendered":"<div align=\"center\"><a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" ><img src=\"https:\/\/www.mediaintel.asia\/wp-content\/uploads\/mediaintelasia-logo-blackyellow-400x300-1.png\" border=\"0\" width=\"200\" height=\"150\" alt=\"MediaIntel.Asia\"><\/a><\/div>\n<p>T he \u00a34m a year chief financial officer of Prudential was forced to quit today after conduct that \u201cfells short\u201d of the insurer\u2019s standards.<br \/>\nJames Turner, who landed the job a year ago after a stint as chief risk and compliance officer, is out after an investigation into a \u201crecent recruitment situation\u201d, but specific details were not forthcoming.<br \/>\nHe was paid \u00a34m last year, and \u00a33 million the year before. as the number two at the giant insurer, which has been around for 175 years and now has a largely Asian focus.<br \/>\nHis chief executive Anil Wadhanwi said: \u201cOur code of conduct sets out that we expect all our colleagues to adhere to the highest professional standards and behaviours.\u201d<br \/>\nTurner is likely to miss out on some future bonuses. Lawyers were appointed earlier to look into Turner after concern was raised about certain \u201cred flags\u201d. Pru would not name the legal firm behind the investigation.<br \/>\nHe will be replaced by long-standing executive Ben Bulmer, who has been with the business since 1997.<br \/>\nTurner is just the latest top businessman to fall foul of tighter corporate governance rules and lower levels of tolerance among investors for behaviour deemed short of required standards.<br \/>\nHe joined the Pru in 2010 from Barclays, where he was deputy head of compliance. Prudential shares, listed in Hong Kong and London, fell 22p to 1102p today. The business is valued at \u00a330 billion.<br \/>\nThe Pru\u2019s statement to the stock market said: \u201c Mr Turner will remain available to the Group for a period of four months to support a smooth transition. There are no implications for the financial performance, reporting or operations of the business.\u201d<\/p>\n<p>This data comes from <a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" >MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>T he \u00a34m a year chief financial officer of Prudential was forced to quit today after conduct that \u201cfells short\u201d of the insurer\u2019s standards.<br \/>\nJames Turner, who landed the job a year ago after a stint as chief risk and compliance officer, is out after an&#8230;<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[762,671,339,194,1284],"tags":[10388,5099,10315],"class_list":["post-159187","post","type-post","status-publish","format-standard","hentry","category-corporate-social-responsibility","category-finance","category-hong-kong","category-news-chinese-law","category-stock-market","tag-esg","tag-london","tag-media-intelligence"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=159187"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159187\/revisions"}],"predecessor-version":[{"id":159188,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159187\/revisions\/159188"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=159187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=159187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=159187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}