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Wood reshuffles the Pru pack in another overhaul

Prudential is undergoing a major management restructuring under new boss Mark Wood which is set to overhaul its business divisions and top-level staff.

The move will result in a reshuffling of its business divisions in to a distribution arm, a product development business focusing on annuity and investment products and a customer servicing business.

Chris Evans, who has been responsible for building Pru&#39s European operations, will head Pru&#39s intermediary business, with Tony Kempster reporting to him. ScotAm chief executive Kim Lerche Thomsen is believed to be going back to a role in product development. He came to ScotAm from Pru Annuities.

Insiders say morale is low at ScotAm. The brand is believed to be under review and could be ditched. Its headquarters in Stirling is expected to become an admin centre for Pru.

Wood, who started as chief executive of Pru&#39s UK and European insurance businesses in June, is understood to be looking for a new group marketing director from outside the business. Casualties of earlier reshuffles include former ScotAm marketing director Gavin Stewart, sales director John Cowan and head of marketing Tim Shields.

Pru declines to comment.

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