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Stewart is out after Pru coup of ScotAm board

The former Scottish Amicable heir apparent Gavin Stewart has been made redundant, with his responsibilities taken by Pru Intermediary staff, a move described by IFAs as an internal coup.

But ScotAm&#39s head of sales John Cowan will head up a joint Pru Intermediary and ScotAm salesforce if PIA approval is given for the mer ger of the two operations.

Stewart has been made redundant after his role was divided between three new board members.

Former head of Pru&#39s intermediary service centre, Rosie Harris, will become management director encompassing e-commerce, while Scot Am sales director (nat ional acc ounts) Andy Briggs takes over marketing as business development director. Tom Board man of Pru dential Annuities will bec ome annuities director.

ScotAm chief executive Kim Lerche-Thomsen is thought to be the driving force behind the changes.

Lerche-Thomsen was managing director of Prudential Annuities and took charge of ScotAm when Roy Nicholson retired in July. Many had expected Stewart to take the top job.

Informed Choice managing director Nick Bamford says: “It looks like an internal coup. At the time ScotAm was taken over, it appeared as if the ScotAm people came out of it pretty well and held on to senior positions but now it seems things are turning around. But when you are recruiting people to be your deputies, as Lerche-Thomsen is, it is no surprise you look to people you know and trust.”

ScotAm spokesman Darr agh Leeson says: “Gavin is leaving the group after a number of successful years. His roles have been split to reflect developments in the marketplace.”


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