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Prudential hesitates on basing new CEO in Hong Kong

Company says financial hub's COVID-19 restrictions 'challenging' for next chief

Prudential is "very unlikely" to move its head office functions out of Hong Kong, according to interim chief Mark FitzPatrick.   © Reuters

HONG KONG -- Asia-focused insurer Prudential's next chief executive would eventually be based in Hong Kong, but "challenging" COVID-19 restrictions could mean starting the job outside the financial hub, interim chief Mark FitzPatrick said Wednesday.

His comments come after Prudential said last month that its next CEO would be based in Asia for the first time without specifying Hong Kong, where more than half its senior management and operations are now based.

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