Scottish Amicable's days as a separate company are numbered following a major overhaul of Prudential's 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's Stirling headquarters will become a Pru admin centre, if it is kept open at all.
Following ScotAm's 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's 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's 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's 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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