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Pru set to integrate Scottish Amicable

Scottish Amicable&#39s days as a separate company are numbered following a major overhaul of Prudential&#39s business divisions and top-level staff.

As revealed in Money Marketing in August, Pru is being restructured under new boss Mark Wood. ScotAm will no longer be a stand-alone business and will become fully integrated within Pru. Pru bought ScotAm in March 1997 in a £2.8bn deal.

Money Marketing revealed in July the ScotAm brand was under review. Insiders believe ScotAm&#39s Stirling headquarters will become a Pru admin centre, if it is kept open at all.

Following ScotAm&#39s withdrawal of initial commission on regular-premium pensions, sales are now focusing on annuities and bonds which are Pru-branded.

Pru Europe managing director Chris Evans will head Pru&#39s intermediary business, with distribution director for intermediary business Tony Kempster reporting to him.

ScotAm group sales director John Cowan, who was effectively left without a role following Kempster&#39s appointment, will be leaving the company .

ScotAm chief executive Kim Lerche Thomsen is to head a new product development business called PruLab.

Pru Intermediary Business annuities director Andy Briggs will become director of Pru&#39s business-to-business division for big corporate clients.

Pru Life & Pensions director Gary Hitchens will become director of distribution for its direct market. Five other senior managers are leaving.

Pru spokeswoman Clare Staley says: “All businesses are under review and details will be released in November.”

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