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Critical axe falls on three at Pru

The axe has fallen at the Prudential, with three senior members of staff losing their jobs following the storm of controversy which greeted its fateful decision over critical-illness cover last month.

Director of product development Richard Field, director pensions & protection Richard Taylor and senior protection product manager Keith Bevan all left last week.

A statement from the Pru confirms their resignations. Sources close to the company say they were considered to be associated with the protection problems.

All three worked in PruLab, the product development unit that was launched with a fanfare in September 2001 when the Pru scrapped the Scottish Amicable brand.

IFAs say the three may be scapegoats for decisions made at the highest levels of the Pru, with some repeating their calls for UK chief executive Mark Wood&#39s resignation.

Pru spokesman Darragh Leeson says: “Prudential UK & Europe can confirm that a number of individuals have resigned from the organisation. The three individuals worked for PruLab, the company&#39s product development unit. Prudential does not comment publicly on the personal details of employees.”

Michael Philips proprietor Michael Both says: “I still do not think that the buck has stopped high enough. Firing one&#39s minions for decisions that must have been made at the top is beneath contempt. At the very least, Mark Wood&#39s bonus should be severely affected.”


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