Tidjane Thiam will succeed Mark Tucker as group chief executive in October, following Tucker's resignation.
Thiam, who is a French national born in the Ivory Coast, is currently chief financial officer at the firm, having joined in March 2008.
Commenting on the appointment, Sandra Kerr, director at Race for Opportunity, said: "We welcome the appointment, which we believe is a watershed moment for British business and should be widely celebrated.
"But it should be remembered Tidjane Thiam was born and educated outside the UK. His success should not be claimed as a success for promotion of ethnic minorities from classroom to boardroom in the UK.
"Ethnic minorities in management remain shockingly underrepresented in the workforce and, as has been demonstrated by research undertaken by Race for Opportunity, without concerted effort from business and Government this situation will not change."
Prudential's appointment of a black CEO is a first for a FTSE-100 company
Prudential has made history by appointing the first black chief executive of a FTSE 100 company.
