Prudential says CFO leaves after conduct falls short of standards

SYDNEY/HONG KONG (Reuters) - Prudential Plc said on Wednesday its chief financial officer, James Turner, would leave the company after a code of conduct investigation into a recent recruitment showed he had fallen short of its standards.

Turner, who has been with the Asia-focused insurer for 12 years before resigning, will stay on for four months to support a transition to his replacement, Ben Bulmer, the company said.

"The group sets itself high standards and Mr Turner fell short on this occasion," Prudential said in a statement, without detailing the issue.

The incident was identified as part of internal processes, and the recruitment in question was not completed, a company spokesperson said, without stating the nature of the misconduct.

Prudential's board was told of the matter in mid-March, and the firm has appointed a law firm to lead the investigation, the spokesperson added.

"We expect all our colleagues to adhere to the highest professional standards and behaviours," Chief Executive Anil Wadhwani said, citing the code's provisions.

Prudential said there were no implications for its financial performance, results or operation.

Bulmer, a 26-year Prudential veteran overseeing finance matters related to insurance and asset management, has effectively been Turner's number two and included in the company's CFO succession plan, the spokesperson said.

(Reporting by Scott Murdoch in Sydney and Selena Li in Hong Kong; Editing by Clarence Fernandez)