(Reuters) - Britain's largest listed insurer Prudential Plc
Falcon, who has two decades of senior experience in the savings and retirement industry, takes over as chairman and chief executive officer from Barry Stowe, who will retire at the end of this year.
Prudential's North American business unit includes retirement income provider Jackson National Life Insurance Company, the investment adviser Jackson National Asset Management and the institutional asset manager PPM America.
Falcon, 55, was CEO of JP Morgan Asset Management's retirement businesses in the U.S. and has also served as head of Merrill Lynch's
Falcon, who will relocate from Hong Kong to the U.S., will be paid an annual salary of $800,000, Prudential said.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr)