Pru puts Devey in charge of Asian integration

14th Apr 2010 09:10

Rob Devey, chief executive of Prudential UK and Europe, has been handed the task of integrating the Asian life assurance business of AIG into the Pru's Asian operations.Devey takes up the role with immediate effect and will report directly to group chief executive Tidjane Thiam, the man who has put his reputation on the line with the proposed $35.5bn acquisition of the Asian assets of fallen insurance giant AIG.Devey will continue to have board level oversight and responsibility for Prudential UK and Europe but in order to lighten his workload Andrew Crossley, Managing Director of Finance and Barry O'Dwyer, Managing Director of Retail Life and Pensions have been appointed deputy chief executives of Prudential UK and Europe. "The appointment of an Executive Director to lead this effort is a clear indication of how crucial a successful integration is for the future of our company," said Thiam. Devey has only been with the Pru since November 2009, having joined from Lloyds Banking Group, where he was managing director and oversaw the integration of the retail banking operations of Halifax and the Bank of Scotland.The appointments still leave a cloud over the future of Barry Stowe, the current boss of Prudential's Asian operations. The company has made no announcement regarding his future role.