Rothesay Life the frontrunner to acquire £900m Government mortgage portfolio September 20, 2018 British insurance giant Rothesay Life is the frontrunner to acquire a £900m mortgage portfolio from the Government, it has been reported. Rothesay will buy the equity release mortgages from UK Asset Resolution (UKAR), according to Sky News. Read more: What effect did the financial crash have on UK property? The news comes six months after Rothesay Life acquired [...]
Prudential delivers higher profit as Asia business keeps growing August 11, 2015 Prudential yesterday reported a 17 per cent increase in operating profits in Asia during the six months to 30 June, soothing City fears that the firm’s exposure to China would affect its performance. The financial services company’s operating profits from its Asian business totalled £632m for the first half of the year. Prudential announced a [...]
Prudential promotes finance boss Penny James to chief risk role August 10, 2015 Prudential is promoting finance director Penny James to the role of group chief risk officer James, who will also receive a seat on the board, takes the new role on from 1 September. She replaces interim John Foley who had stepped up to the role following the departure of Pierre-Olivier Bouée earlier this summer [...]
Tidjane Thiam’s last Prudential results put spotlight on Asia while UK business lags May 6, 2015 Outgoing Prudential boss Tidjane Thiam yesterday said the company was no longer seeking to grow in the US and UK, and would instead focus on expanding in the Asian market. Thiam delivered his last set of results as the head of the insurance group, which detailed the firm’s 22nd consecutive quarter of growth. Sales across [...]
Tidjane Thiam will be replaced by Mike Wells as Prudential chief exec May 1, 2015 Prudential has found its successor for departing chief executive Tidjane Thiam – and they haven't had to look too far. Mike Wells, head of the company's US arm Jackson National Life, will step into the role vacated by the popular Thiam, who is leaving to head up Credit Suisse. The 55-year-old will replace a resoundingly popular [...]
Tidjane Thiam earnt £11.8m in last year as Prudential’s chief executive March 31, 2015 Outgoing Prudential chief executive Tidjane Thiam received £11.8m in his final year at the company, the insurer revealed yesterday. The vast majority of that came from long-term incentive awards – those payouts gave him £8.3m. Combined with a salary of just over £1m, pension contributions of almost £400,000 and a bonus of £2.1m, the boss [...]
Budget 2015: Personal finance groups including Hargreaves Lansdown, St James’ Place and Rathbone’s share price boosted by “saving revolution” Budget March 18, 2015 Personal finance groups were treated to a share price boost this afternoon, after George Osborne unveiled “a saving revolution”. Bristol-based IFA Hargreaves Lansdown led the pack, up 4.8 per cent at pixel time. St James' Place also jumped on the announcements, up 3.5 per cent. Rathbone Brothers's share price was up two per cent, while [...]
Tidjane Thiam quits Prudential for Credit Suisse: The exit of a chief exec who defied the odds March 10, 2015 Back in 2010, you would never have expected Tidjane Thiam to receive this reaction on his departure from Prudential. An ill-fated acquisition bid left shareholders fuming – the attempt to buy AIA for £21bn saw the insurer lose £373m and Thiam took the blame. On top of that, the Financial Services Authority (FSA) censured him, fining [...]
From Standard Chartered to Prudential: Changing the guard at banks – Bottom Line March 10, 2015 When floods of bosses quit, you should normally be worried. Think of the financial crisis, or the heads that rolled in the wake of the Libor scandal. But this time it is different, and that is surely a good sign. The Pru’s boss has unexpectedly quit, to replace Brady Dougan as the head of Credit [...]
Prudential boss Tidjane Thiam jumps into Credit Suisse role March 9, 2015 Prudential boss Tidjane Thiam is set to leave the FTSE 100 giant later this year to head Swiss banking titan Credit Suisse, it emerged last night. The surprise exit, which would bring the curtain down on a six-year tenure at the helm of the Pru, is expected to be announced as soon as this morning, [...]