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Surprise over Nicolson successor at ScotAm

Prudential Annuities managing director Kim Lerche-Thomsen is to replace Roy Nicolson as chief executive of Prudential&#39s retail IFA arm Scottish Amicable.

Industry insiders have expressed their surprise atthe appointment. Many had predicted the job would goto ScotAm e-commerce & marketing director Gavin Stewart.

Nicolson, 56, is retiring after 40 years with the firm but will work alongside Lerche-Thomsen during the six-month run-up to his official appointment in January 2001. Lerche-Thomsen, 47, will also continue as managing director of Prudential Annuities.

Lerche-Thomsen started his career at Prudential as a trainee actuary after leaving university in 1975 at the age of 22. He worked in the central actuarial area and after qualifying moved to corporate pensions.

He transferred to sales and marketing in actuarial and new business acquisition roles, taking up the directorship of Prudential Corporate pensions in 1990. In 1997, he became managing director of Prudential Annuities.

Prudential Annuities will be added to the Prudential&#39s retail IFA business unit at the end of the year.

Nicolson cites Lerche-Thomsen&#39s experience with Prudential Annuities as a deciding factor in his appointment.

He says: “Kim has been very successful in building up Prudential Annuities and this is obviously one of the reasons why he was chosen to be my successor. My current business unit is much wider than Kim&#39s and when he takes up the position he will be expanding his focus.”

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