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Prudential to appoint Paul Manduca as new chairman

Prudential is set to appoint Paul Manduca as its new chairman replacing Harvey McGrath, according to reports.

The FT says Manduca, a senior independent director at the UK insurer, has emerged as the favourite, despite being the man tasked with leading the hunt for external candidates to fill the role.

Prudential has been looking to appoint a replacement since McGrath announced his intention to step down in December 2011. The announcement came on the back of shareholder pressure following the failed takeover of Asian insurer AIA for $35bn in 2010.

Last week, Prudential investors voted against an executive pay deal for seven of its directors worth almost £30m.

According to the Telegraph, Manduca, the former chief executive of Rothschild Asset Management, has been chosen by the FTSE 100 insurer’s board after a review of both internal and external candidates.


Invesco chief economist: Political leaders ‘scared rigid’ of bank contagion

Invesco Perpetual chief economist John Greenwood says political leaders are “scared rigid” of a run on banks across Europe as Greece teeters on the brink of collapse. Speaking at the Money Marketing Retirement Planning Summit in Turnberry, Scotland yesterday, Greenwood said it is inevitable Greece will default on its debt, either voluntarily or under pressure […]

Adviser is banned over pension transfer errors

The FSA has banned Unwin Financial Services director Stuart Unwin from working in senior financial services roles after an investigation found “serious shortcomings” in the company’s occupational pension transfer advice. Unwin, who is based in Cambridgeshire, has been banned from performing a significant influence function in relation to any regulated financial services activity. The FSA […]

Power stations

The problem: Charlie and Joan are retired teachers. Joan has had experience of having her father lose mental capacity due to dementia.


Nic Cicutti: The consumer journalist take on Arch cru

One of the intriguing aspects of offering a “consumer” perspective on financial services issues, as I try to do in Money Marketing, is the assumption that there is a single view on all issues. When, for example, I tried in my most recent column to offer an analogy to the Titanic as a metaphor of […]


Guide: what you need to consider for your auto-enrolment project

In this guide, Johnson Fleming reveals what items you need to understand to gauge the impact of auto-enrolment on your business. The guide focuses on: the impact that your auto-enrolment scheme will have on you; assessing your workforce; understanding your staging date; reviewing your current provision; and modelling contribution levels and costs.


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