Friday, May 17, 2013

Man from the Pru

Chief executive Tidjane Thiam remuneration for last year totalled £7.8 million.

He was censured by the Financial Services Authority in March after Prudential was fined £30m for two regulatory breaches relating to its aborted £23 billion acquisition of Asia-based AIA three years ago.

Shareholder Ian Michel told Prudential's annual shareholder meeting in London: "It seems to me that the executive pay is very high. I have no doubt everybody works very hard but the word 'greedy' is not entirely removed from my mind."


Another described Mr Thiam's pay as "obscene".

Steve O'Donnell, a representative of staff union Unite at Prudential UK, which has a large site at Craigforth, Stirling, questioned the bonus payout to Mr Thiam in light of the FSA fine.








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