AIA CHANGES: Is this why the Pru management has survived?


“Holy Tuckers Batman – this might just work!”

God moves in mysterious ways, and Mammon does pretty much the same – but with added secrecy and speed. The Slog understands that the management changes at AIA – and the continued existence in power of the Pru’s gung-ho couple Tidjane Thiam and Harvey McGrath – are probably related.

Mark Tucker, a former head of British insurer Prudential, is to take over at AIA from Mark Wilson. Wilson had been in charge since 2006. Tucker was a major player in the growth of Prudential’s Asian business. He held the chief executive position from 2005 until quitting in 2009. He had been touted as a possible replacement for Prudential boss Tidjane Thiam should the CEO’s position become untenable.

If the deal was reignited, from some viewpoints it would solve two problems – the Pru investors’ desire to line up their own Chairman (never a good idea in my experience) and what to do with Thiam…who would become ‘continuity boy’, and then mutually dispatched.

However, I understand Tucker isn’t keen to take on the whole Pru mess: what’s being mooted is an AIA/Prudential’s Asia business ‘merger’, but with AIA as the senior partner. And while this option should play well with Pru shareholders, it suggests less of a future for Prudential’s Batman and Robin.

We shall see.