Prudential has appointed Sir Douglas Flint as non-executive director and chair designate from March.
Sir Douglas announced his departure from Aberdeen, where he has been chair since 2019, at the investment manager’s 2025 Annual General Meeting.
He will step down from the Aberdeen board on 28 April.
Aberdeen has yet to select at successor to Sir Douglas, with the search remaining ongoing.
Sir Douglas will move to replace Baroness Shriti Vadera as chair of life insurance giant Prudential. He will also join the nomination and governance, and remuneration committees.
Baroness Vadera, a former Labour politician and business minister, will retire from Prudential’s board in May.
Sir Douglas spent most of his career at HSBC, where he spent two decades, and was chairman between 2011 and 2017. He was also group finance director from 1995 to 2010. He was also previously a partner at KPMG.
His annual fee on appointment will be $1,005,000 (£747,006).
He was awarded a Commander of the Order of the British Empire (CBE) in June 2006, in recognition of his services to the financial services industry.
Sir Douglas 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.”
Prudential Insurance is separate from Pru Fund and the other Prudential investment vehicles which were spun off into M&G Investments in 2019.