Prudential chief Tidjane Thiam risks ire with Soc Gen role

By Harry Wilson 630AM GMT eighteen March 2010

Comments 1 |

Prudential

The arch senior manager of UK insurer Prudential has found time in his chaotic report heading one of the largest unfamiliar takeovers ever attempted by a British association to accept a new directorship.

Tidjane Thiam, who is attempting to buy AIG"s Asian commercial operation in a understanding value $35.5bn (�23.2bn), has taken a non-executive directorship at French bank Socit Gnrale, risking the madness of shareholders who have been vicious of the deal.

AIA certain to rise, Prudential investors told Beyond the headlines, Britain faces hazard of a jobless liberation Prudential seeks to woo indignant investors Prudential arch Tidjane Thiam is receiving the risk commercial operation to a total new impassioned Prudential initial entertain sales tumble on Asian unemployment Mark Tuckers fitness binds to the finish at Prudential

Jane Coffey, head of UK equities at Royal London, that has a small interest in the Prudential, pronounced the French-educated Mr Thiam "ought to be bustling with his day job".

One word industry researcher voiced warn at the timing of the announcement, entrance as it does in the center of ethereal negotiations with shareholders endangered at the scale of an merger that will roughly stand in the distance of the insurer.

"Presentation correct this is not the majority appropriate timing," pronounced the analyst.

Prudential is personification down the time joining the SocGen directorship will direct and pronounced the post was not approaching to take some-more than five days out of Mr Thiam"s year, though not long ago the bank has hold about 10 house meetings a year.

Edward Brewster, a orator for Prudential, pronounced "Socit Gnrale has since an pithy approval that he will have minimal impasse with them this year and that the Prudential will take priority."

Cote d"Ivoire-born Mr Thiam, who is a connoisseur of tip French universities Ecole Polytechnique and Ecole des Mines de Paris, was approached by SocGen last year and will stick on the bank"s house in May only in time for the hearing of the bank"s purported brute merchant Jerome Kerviel.

Mr Thiam is one of France"s majority distinguished businessmen and was shortlisted in the ultimate Français of the Year Awards organized by chosen French alumni group, Grandes Ecoles City Circle, that recognises the achievements of UK-based French nationals opposite the realms of art, cooking, commercial operation and sport.