Prudential appoints new non-executive director

UK insurer Prudential has announced that former Morgan Stanley senior adviser Alice Davey Schroeder will join its board as an independent non-executive director on Monday.

Schroeder was formerly managing director at Morgan Stanley, leading its global insurance equity research team, before becoming a senior advisor to the bank. She began her career as a qualified accountant at Ernst & Young before working for the US Financial Accounting Standards Board.

Schroeder also authored the official biography of Berkshire Hathaway boss Warren Buffett, however, according to City AM the two fell out following the book’s publication.

Prudential chairman Paul Manduca said: “I am delighted Alice is joining the board. She is highly respected by the international investment community and the roles she has undertaken have given her considerable insight into all aspects of the global insurance industry, including its regulation and accounting.”

In other changes to the Prudential board, Michael Garrett will retire on 31 August after almost nine years of service.

“On behalf of the company, I would also like to thank Mike Garrett for his many years of service, during which time his international business experience has been of considerable value to the board,” Manduca said.