Prudential chief faces call to go
Fund management group Fidelity is planning to call for the resignation of the chairman of Prudential when it meets the insurer today, it was reported yesterday.
The group is understood to be planning to demand the resignation of Harvey McGrath following Prudential's failed takeover attempt of the Asian insurance arm of AIG, according to The Sunday Times.
A group of shareholders is thought to be already sounding out candidates to replace him, with former City Minister Lord Myners thought likely to be approached about possibly taking on the job. Jim Schiro, the former chief executive of Zurich Financial Services has also been tipped as a potential candidate.