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ScotAm brand under review by Pru

The future of the Scottish Amicable brand within the Prudential group is

understood to be under review and could soon be ditched.

Money Marketing understands talks are taking place on whether to carry on

using the ScotAm name or whether all products should come under the

Prudential brand.

It already sells annuities and its Prudence bond through intermediaries

under the Prudential brand and top-level management are believed to be

questioning why the ScotAm brand is needed for pensions and mortgages.

Pru managers are known to believe that a Pru-branded stakeholder pension

would help it to achieve the volumes needed for stakeholder business

because it has a wider presence in the target market.

ScotAm is already undergoing serious upheaval with the appointment of

former DBS chief executive Tony Kempster as head of its intermediary

distribution business.

The ScotAm and Pru intermediary business sales teams were merged and

relaunched as Scottish Amicable Financial Services in March. Its name is

also believed to be under question.

Scottish Amicable chief executive Kim Lerche Thomsen joined ScotAm from

the Pru Annuities business and he is understood to have little interest in

building on the ScotAm brand.

Scottish Amicable spokesman Darragh Leeson says: “Prudential operates a

number of brands but there is nothing in our current thinking which at

present believes we need to change this.”

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