Edinburgh-based investment giant Aberdeen Group plc said on Wednesday the process to select a successor to Douglas Flint as its chair “remains ongoing” as Hong Kong-based Prudential plc announced Flint, 70, will become its chair designate in March.
Aberdeen’s AGM will be held on April 29.
“Further to the announcement made at the company’s 2025 Annual General Meeting (AGM) that Sir Douglas would not be seeking re-election as a director at its 2026 AGM, Sir Douglas will step down from the board at the conclusion of the company’s board meeting on 28 April 2026,” said Aberdeen.
“The process to select a successor to Sir Douglas as chair of the company remains ongoing and the company will provide further updates on this in due course.”
Aberdeen Group manages and administers about £550 billion of client and customer assets across its three core businesses — interactive investor, Adviser and Investments.
Prudential plc said: “Prudential plc announces that Sir Douglas Flint will be appointed as a Non-Executive Director and Chair-Designate to succeed Shriti Vadera as Chair of the Board following the Company’s Annual General Meeting on 28 May 2026 when Shriti Vadera will retire from the Board after six years of service.
“Sir Douglas is expected, subject to regulatory approval, to join the Board in March enabling an orderly handover prior to Shriti’s departure. He will also join the Nomination & Governance and Remuneration Committees.
“Sir Douglas spent over two decades at HSBC, serving as Group Finance Director from 1995 to 2010 and then as Group Chair from 2010 until 2017. Since 2018, he has chaired both Aberdeen Group plc and IP Group plc.”
Prudential added: “Sir Douglas’s annual fee on appointment will be $1,005,000.”
Prudential plc CEO Anil Wadhwani said: “Douglas brings extremely valuable expertise to the Board and his deep knowledge of Asia is particularly important for the Company. I look forward to working with him to shape the next phase of Prudential’s growth. I am personally deeply grateful for Shriti’s leadership, counsel and support in the last few years.”
Vadera said: “I am delighted Douglas will succeed me as we complete the delivery of our current transformation plan and start to consider the next phase of Prudential’s growth strategy. His deep understanding of global finance, and extensive knowledge of Prudential’s markets will be invaluable as we deliver for our investors, customers, communities and employees.”
Flint said: “Being able to help shape the next stage of Prudential’s development is a great privilege and I look forward to working together with the Board, Anil, and the whole team to deliver great experience to customers, and real value to shareholders and wider stakeholders. This is such an exciting time to be joining. The business is well placed to meet the needs of our customers and to expand the provision of protection, health and savings solutions to currently under-served markets.”
Prudential plc Senior Independent Director Jeremy Anderson, who led the search for Shriti Vadera’s successor, said: “After a full search, I’m delighted Douglas will become the next Chair of Prudential. He brings extensive experience leading global financial institutions, alongside deep experience in Asia, and is ideally positioned to lead the next stage of the Group’s development, taking forward the strong foundations and momentum created during Shriti’s tenure.
“His background and skills will be of great value as we work to bring the best of Prudential to our investors, customers, colleagues, and the communities within which we operate.
“During Shriti’s time as Chair, Prudential has fundamentally transformed from a global insurance and asset management holding company, to a business focused on serving the growing needs of markets in Asia and Africa.
“I am hugely grateful to her for the way she has so ably led the Board and the Company through this complex transition, creating a fast-growing diversified business with improving performance, strong corporate and performance culture and major market presence in many Asian markets. The Board, management and Company are very grateful for her leadership and vision and wish her every success for the future.”