MOVES-Prudential taps Asia boss Stowe to replace Wells in N. America

LONDON, June 1 (Reuters) - Asia-focused insurer Prudential said it had appointed Barry Stowe as chairman and chief executive of its North American unit, taking over from Mike Wells, who starts as group chief executive on Monday.

Stowe was previously chief executive of Prudential Corporation Asia and will remain on the Board of Prudential (SES: K6S.SI - news) , the company said in a statement. He will be replaced in Asia by Tony Wilkey, previously the regional chief executive for insurance.

In addition, Prudential said Group Investment Director John Foley would also take on the role of chief risk officer on an interim basis, following the departure of Pierre-Olivier Bouée.

All three appointments are effective from June 1. ID:nL5N0XS0QU]

"We are well positioned to take advantage of the transition into retirement of the wealthiest generation in history, the American 'baby boomers'," Stowe said.

"Our team in North America has a clear strategy and a solid track record of executing against that strategy. They have consistently delivered positive results for both consumers and shareholders. I am very much looking forward to working with them to build upon this extraordinary success."

Former Prudential chief executive Tidjane Thiam has moved to run Swiss bank Credit Suisse (NYSE: CS - news) . (Reporting by Simon Jessop; editing by Carolyn Cohn)