PRUDENTIAL is hunting for a new director of investor relations (IR) at time when a series of tumultuous exchanges have strained the rapport between shareholders and company management, City A.M. has learned.
Headhunter Taylor Bennett has been hired to find a replacement for Matt Lilley, who will move over to focus on business strategy. Although the search began six months ago, pre-dating Prudential’s $35.5bn (£23.6bn) bid for American International Assurance, the incoming IR boss will have to guide investors through a record-breaking rights issue and the ambitious Asian deal.
With its IR operation in flux, Prudential has temporarily merged investor work with its communications team. The makeshift arrangement is understood to be the reason several shareholder meetings were botched when the AIA deal was first announced, irritating fund managers who complained about rushed sessions and late scheduling.
The Holborn-based insurer is said to have interviewed around six candidates for the job, which comes with a pay package of up to £250,000.