13th Oct 2006 08:49
Prudential PLC13 October 2006 Date: 13 October 2006 PRUDENTIAL PLC ANNOUNCES THE APPOINTMENT OF IAN KERR AS CHIEF EXECUTIVE OF EGG The Board of Prudential plc ("Prudential") announces the appointment of Ian Kerras Chief Executive of Egg. Ian Kerr, who was previously Chief Executive Retail Banking for Halifax Bank ofScotland plc, will join Prudential in November 2006. Ian was appointed Group Services Director of HBOS in 2001, before being promotedto Chief Executive Retail Banking in 2004. He was previously Chief Executive ofBirmingham Midshires. Nick Prettejohn, Chief Executive, Prudential UK, said: "Ian's background and experience mean that he is very well-suited to lead thebusiness through its next stage of development and help deliver the integrationbetween Egg and our UK insurance business. Ian has extensive experience inretail banking and we are delighted to welcome him to the Group. "I would also like to thank Mark for the very significant contribution he hasmade to Egg over the years. We wish him all the best in his new role." Ian Kerr said: "I am delighted to be joining Prudential at this exciting time in the Group'sdevelopment, and I look forward to working with the team. Egg is a leading brandand my challenge is to drive its profitable growth while exploiting itssignificant value as part of Prudential's broader customer and distributionstrategy." - ENDS - Enquiries: Media Investors/AnalystsJon Bunn 020 7548 3559 James Matthews 020 7548 3561William Baldwin-Charles 020 7548 3719 Notes to Editor: 1. About Ian Kerr, Chief Executive, Egg. Mr Ian Kerr was previously Chief Executive of UK Retail Banking at HBOS plc, aposition he held since 2004. Previously, he was Group Services Director of HBOS.Ian was Chief Executive of Birmingham Midshires when it was acquired by theHalifax Group in 1999 and had been with the company since 1989. Ian is a fellow of the Chartered Association of Certified Accountants, is amember of the Institute of Directors and is a Member of Visa Board Europe. 2. About Prudential *Prudential plc, a company incorporated and with its principal place of businessin the United Kingdom, and its affiliated companies constitute one of theworld's leading financial services groups. It provides insurance and financialservices directly and through its subsidiaries and affiliates throughout theworld. It has been in existence for over 150 years and has £238 billion inassets under management, as at 30 June 2006. Prudential plc is not affiliated inany manner with Prudential Financial, Inc, a company whose principal place ofbusiness is in the United States of America. Forward-Looking Statements This statement may contain certain "forward-looking statements" with respect tocertain of Prudential's plans and its current goals and expectations relating toits future financial condition, performance, results, strategy and objectives.Statements containing the words "believes", "intends", "expects", "plans","seeks" and "anticipates", and words of similar meaning, are forward-looking. Bytheir nature, all forward-looking statements involve risk and uncertaintybecause they relate to future events and circumstances which are beyondPrudential's control including among other things, UK domestic and globaleconomic and business conditions, market related risks such as fluctuations ininterest rates and exchange rates, and the performance of financial marketsgenerally; the policies and actions of regulatory authorities, the impact ofcompetition, inflation, and deflation; experience in particular with regard tomortality and morbidity trends, lapse rates and policy renewal rates; thetiming, impact and other uncertainties of future acquisitions or combinationswithin relevant industries; and the impact of changes in capital, solvency oraccounting standards, and tax and other legislation and regulations in thejurisdictions in which Prudential and its affiliates operate. This may forexample result in changes to assumptions used for determining results ofoperations or re-estimations of reserves for future policy benefits. As aresult, Prudential's actual future financial condition, performance and resultsmay differ materially from the plans, goals, and expectations set forth inPrudential's forward-looking statements. Prudential undertakes no obligation toupdate the forward-looking statements contained in this statement or any otherforward-looking statements it may make. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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