Former City regulator Sir Howard Davies has joined the board of Prudential as a non-executive director.
Sir Howard was chairman of the FSA between 1997 and 2003.
At Prudential he will also head up the group's new risk committee, which is still in the stages of being set up.
Sir Howard will be paid £116,500 a year, the insurer told newswires.
News of Sir Howard's appointment confirms reports earlier this month that Prudential was seeking to strengthen its board in the wake of its failed bid for AIA, the Asian business of US insurer AIG.
The debacle led to investor criticism over its handling of the deal, with Pru chief executive Tidjane Thiam reportedly facing calls to quit.
Sir Howard, 59, brings with him a wealth of business and regulatory experience.
He is currently director of the London School of Economics and Political Science and is also a director of Wall Street bank Morgan Stanley.
His career also saw him act as deputy governor of the Bank of England, while he headed the CBI as director-general for three years.
Sir Howard's appointment comes as one of a number of board-level changes, with Paul Manduca also joining as non-executive director and the recruitment of a new head for Prudential's US business, Jackson.
Mike Wells, vice chairman and chief operating officer at Jackson, will succeed Clark Manning at the helm of the US group after his decision to step down after 15 years with the company on 1 January.
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