Prudential rejigs UK legal function

Prudential has launched a revamp of its UK legal team with the creation of a new head of legal role.

The new role marks the first time the insurance giant will have a dedicated legal chief, who has still to be recruited, for its domestic arm Prudential UK.

A nine-strong legal team will move from the group’s London Bridge HQ to its dedicated UK centre in Paddington and will report directly into the new recruit, who in turn will report to Prudential UK chief executive Rob Devey.

A spokesperson for Prudential said: “The move reflects that the group’s business units around the world will have increasingly different company and ­secretarial needs.”

There are now separate teams looking after the insurer’s Asia operation PCA, US arm Jackson National Life and asset management business M&G.

The move is the first major change to the group’s legal set-up since Margaret Coltman became general counsel and company secretary last December after taking over from 11-year incumbent Peter Maynard on an interim basis in July.

The spokesperson added that the changes would not impact on the group’s use of external advisers. Firms previously mandated by Prudential have included Freshfields Bruckhaus Deringer, Lovells and Slaughter and May.