Prudential Portfolio Managers has announced that Bernard Fick, CEO, will be leaving the company at the end of February 2022. 

Fick has worked for Prudential for some 14 years and has led the business as Chief Executive for most of that time. 

Commenting on his departure, Fick said: “I never planned to be a ‘CEO-for-life’ and have, for a while, been thinking about when the most appropriate time might be for me to step aside and allow a successor to take the business further.” 

“It was always my hope to hand over at a time when we were in a particularly strong competitive position, and our prospects highly encouraging. Now is such a time.”

Graham Mason, Chairman of Prudential Portfolio Managers, added: “The Board and I respect his wish for a change. Bernard hands over the business in a very strong position, whether measured by investment performance, asset growth, the strength of the team, or many other metrics. I’d like to thank Bernard for all that he has contributed to Prudential and wish him all of the very best.”

Chris Sickle (pictured), current Chief Financial Officer, has been appointed as CEO of Prudential Portfolio Managers (to be renamed M&G InvestmentsSouthern Africa), effective immediately.

He has been the CFO for the past two-and-a-half years and has worked closely with Fick during this time.

Prior to joining Prudential, he was with EY for 17 years, the majority of which as a Partner and Asset Management Leader for Africa. 

In addition, for the last six years at EY he was the Managing Partner for the Cape Region.

“In the over two years that I, and the Board, have worked with Chris, we have come to know and respect his strengths, his talent and his leadership. We are very pleased to have such a depth of talent in our company from which to be able to elect the next leader, and that Chris has accepted the role. Chris has the Board’s complete support to lead M&G Investments Southern Africa as we go forward, and we have full confidence that he will continue to grow the company for the benefit of our clients, shareholders and staff,” Mason added.

Fick said their recent decision to change the name and the closer alignment with their UK-based shareholder provide a unique window for the next M&G Investments CEO to use as a springboard to further help their clients achieve their investment goals.

“I want to congratulate Chris on his appointment, and I wish him the very best in this role. Chris and I have worked closely for the past two-and-a-half-years, and I am certain he will be an excellent leader of our strong team. I will be following M&G Investments’ future success with tremendous pride.”

Sickle commented: “It is with great pride and excitement that I accept the appointment of CEO of M&G Investments Southern Africa. I would like to thank Bernard for leading the business for the past decade. During this time, M&G has experienced exponential growth, as well as successfully navigated tough conditions as a result of Covid-19 these past 18 months. Bernard and I have started the handover process, and this will continue over the coming months.”

“We are now M&G, not only in name, but also in our ability to provide new global solutions to our local market, and vice versa. With the additional expertise offered by our global parent group, and the excellence of our existing teams, clients should continue to expect only the highest standards of investment performance and service going forward,” he said.