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, [...]
Exclusive: Prudential to hire ex FCA regulator Clive Adamson March 9, 2015 Clive Adamson, who quit the Financial Conduct Authority (FCA) as director of supervision ahead of a critical report into its conduct before Christmas, is joining the Prudential, two sources have told City A.M. Adamson is understood to be joining Prudential’s UK business, possibly in a non-executive capacity. Although Adamson’s departure from the FCA was widely [...]
Prudential lifts new business profits despite annuity slump November 18, 2014 Insurance giant Prudential grew its new business profit by 17 per cent in the first nine months of 2014, up to £1.5bn from £1.4bn in the same period of last year. The company reported that UK new business profit grew by 28 per cent in the first three quarters, to £209m, while annual premium equivalent [...]
Prudential backs Swansea energy project October 20, 2014 PRUDENTIAL has been named as the cornerstone investor in the £1bn Tidal Lagoon Swansea Bay Project, which has been designed to generate electricity by harnessing the power of the sea. Through its investment arm, M&G, Prudential will provide up to £100m for the project.
Prudential boss to join 21st century board September 29, 2014 Tidjane Thiam, Prudential chief executive, has been nominated to join the board of Rupert Murdoch’s 21st Century Fox (whose upcoming movie Gone Girl, pictured, featuring Ben Affleck, has received rave reviews). Thiam, circled above, said he was “delighted to be nominated”. A final decision will be made on 14 November at the firm’s annual meeting.
Jeff Randall: From Sky soap box to Prudential sounding board August 17, 2014 So, Jeff Randall’s off the to the Pru. The veteran business hack, whose career has seen him go from The Telegraph, to the BBC to Sky (from where he stepped down earlier this year) is to become an adviser to Prudential boss Tidjane Thiam. Ah, I hear you say, another journo heads-off into a PR [...]
Star Man from the Pru’s results turns spotlight on to Standard Chartered – Bottom Line August 12, 2014 It’s little surprise that the chief executives of Standard Chartered and Prudential “have a very good existing relationship,” to quote the latter. Peter Sands and Tidjane Thiam may come from very different corners of the world – Sands was born in England, Thiam in the Ivory Coast – yet these days both can regularly be [...]
Prudential rides out the storm to bolster profits August 12, 2014 The strong pound and changes to UK annuities failed to stop the country’s biggest insurer, Prudential, from surging to a better-than-expected rise in profit yesterday. The Pru, led by high-profile chief executive Tidjane Thiam, said operating profits rose seven per cent to £1.5bn for the six months ending June, beating analysts’ estimates. The [...]