Paul Victor Falzon Sant Manduca (born 15 November 1951) was chairman of

Prudential plc Prudential plc is a British Multinational corporation, multinational insurance company headquartered in London, England. It was founded in London in May 1848 to provide loans to professional and working people. Prudential has dual primary list ...

in the United Kingdom from July 2012 until December 2020. Manduca was awarded a Maltese Order of Merit in 2018.

Early life and education

Manduca was born in London and educated at

Harrow School (The Faithful Dispensation of the Gifts of God) , established = (Royal Charter) , closed = , type = Public schoolIndependent schoolBoarding school , religion = Church of E ...

, before earning a degree in modern languages at Hertford College,

Oxford University Oxford () is a city in England. It is the county town and only city of Oxfordshire. In 2020, its population was estimated at 151,584. It is north-west of London, south-east of Birmingham and north-east of Bristol. The city is home to the ...

from 1970 to 1973. He is the eldest of six children. His father built up a security business, which he sold to

Securicor Securicor plc was one of the United Kingdom's largest security businesses. It was once a constituent of the FTSE 100 Index but merged with Group 4 Falck in 2004. History The Company was founded by Edward Shortt, a former Liberal Cabinet Minister, ...

Executive career

Manduca joined the broking firm Colgrave & Co after graduation, before moving into

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

. Manduca became a portfolio manager at

Rowe & Pitman Rowe & Pitman was once one of the largest British stockbrokers. History The firm was founded in London in 1895 by stockbrokers George Duncan Rowe and Fred Pitman. It was known in the city as "R & P". In the 1950s, two of the firm's biggest client ...

, which later become part of S G Warburg, before running a range of funds and eventually becoming head of small company funds at Hill Samuel Asset Management in the early 1980s; the peak period for the

Unlisted Securities Market The Unlisted Securities Market (USM), which ran from 1980 to 1996, was a stock exchange set up by the London Stock Exchange to cater for companies too small to qualify for a full listing. The USM allowed companies to be traded which did not have ...

. In 1983 he joined Touche Remnant, the investment trust manager and was appointed CEO of the TR Smaller Companies Investment Trust and TR Industrial and General Trust. In 1989 he became CEO of Touche Remnant and engineered a £50m takeover by French banking group Société Générale. The French bank subsequently sold Touche to

Henderson Group Henderson Group plc was a global investment management company with its principal place of business in the City of London. It merged with Janus Capital Group in May 2017 to create Janus Henderson. History The Company was established in 1934 t ...

, in 1992. From 1994 to 1999, Manduca was founding CEO of Threadneedle Asset Management Limited, during which time he was also a director of

Eagle Star Insurance The Eagle Star Insurance Company plc (formerly Eagle Star Insurance Company Limited) was a leading British insurance business. It underwrote the full range of risks including liability, fire, accident, marine, motor, life, contingency and Pluvius ...

and

Allied Dunbar Allied Dunbar was a large British life assurance group. In its early years it was known as Hambro Life Assurance and was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. However it was acquired by BAT Indust ...

. Between 1999 and 2002 he was CEO of Rothschild Asset Management and was European CEO of Deutsche Asset Management from 2002 to 2005.

Non-executive roles

Manduca has held several directorships, including as a non-executive director of Wm Morrison Supermarkets plc, the UK supermarket chain, from 2005 to 2011. During that time, he was the senior independent director, a member of the nomination committee and chairman of the remuneration committee, and prior to that he set up the audit committee. He was a director and chairman of the risk and reinsurance company Aon UK Limited from 2006 to 2012. He chaired Bridgewell Group plc from 2006 to 2008, and was a director and chairman of JPMorgan European Smaller Companies Investment Trust from 2005 to 2012. Manduca was chairman of Prudential plc from 2012 to 2020. He joined the board of Prudential plc as the senior independent director in 2010, serving as a member of Prudential’s audit and remuneration committees from 2010 to 2012 and as a member of the nomination committee from 2011 until he was made chairman of the board and chairman of the nomination committee in 2012. In 2015 he became chairman of the Templeton Emerging Markets Investment Trust. In July 2017, Manduca became chairman of RateSetter, an online peer to peer lending company.

Wider industry roles

He was chairman of the

Association of Investment Companies The Association of Investment Companies (AIC) is the United Kingdom trade association for the closed-ended investment company industry. Function The association represents a broad range of closed-ended investment companies, incorporating investm ...

from 1991 to 1993, and is a former member of the

Takeover Panel The Panel on Takeovers and Mergers, or more commonly The Takeover Panel, is the United Kingdom's regulatory body charged with the administration of The Takeover Code. It was set up in 1968 and is located in London, England. Its role is to ensu ...

. Manduca was also chairman of CityUK Leadership Council from 2015 to 2019.

References

{{DEFAULTSORT:Manduca, Paul Prudential plc people Living people 1951 births British chairpersons of corporations People educated at Harrow School Alumni of Hertford College, Oxford