Former Prudential executive Ben Rudd joins Chubb Life after HK wealth unit closure
Former Prudential executive Ben Rudd joined Chubb Life as chief investment officer this week, the firm confirmed to AsianInvestor.
Rudd was most recently chief executive officer of Prudential’s wealth management business, Pulse Wealth, in Hong Kong. Pulse Wealth was shut down in April, a Prudential spokesperson told AsianInvestor.
Rudd, who is based in Hong Kong, will be responsible for developing an integrated investment strategy and overseeing all investment activities for Chubb Life, a company spokesperson said, without commenting on whether the role was newly created.
"I’m looking forward to working with the Chubb team to develop and implement an integrated investment strategy for the global Chubb Life businesses," Rudd said in a May 8 post on LinkedIn.
Chubb Life is the international life insurance arm of American insurer Chubb.
Chubb Life focuses on Asia Pacific and Latin America.
Before joining Chubb Life, Rudd spent seven years with Prudential. He joined the British insurer in 2017 as its first dedicated Hong Kong chief investment officer.
In 2021, he was named chief wealth officer to oversee Pulse Wealth in Hong Kong and became CEO of the wealth management business in early 2022.
Pulse Wealth's shutdown in Hong Kong is part of the insurer's efforts to streamline its wealth strategy and follows the clsure of the Singapore wealth management arm in September last year.
“In executing our strategy and to ensure we offer a clear proposition to our customers, we are refocusing our wealth offerings in Hong Kong through our extensive distribution channels,” a company spokesperson told AsianInvestor.
“We have also established a dedicated high-net-worth team to renew our focus on the high net worth segment in Hong Kong,” the spokesperson said.
Rudd is an investment veteran with nearly 30 years of experience in Hong Kong and London.
He held senior executive roles at a number of international financial institutions including Ping An Asset Management, Caxton Associates, and ABN Amro.
Before joining Prudential, he was CIO for Hong Kong-based family office Caravel Asset Management for three years. He started his career in London with HSBC Investments as global emerging market strategist in 1997.