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Sarah Veysey

AIG names former Prudential exec CEO of AIA unit

July 19, 2010 - 8:47am


HONG KONG--American International Group Inc. reportedly has named Mark Tucker CEO of American International Assurance, AIG’s Asian life insurance unit.

Mr. Tucker previously was CEO of London-based Prudential P.L.C., which recently failed in a bid to buy AIA. He left Prudential in October 2009.

The appointment was reported Sunday by the Wall Street Journal.

Last month, Prudential abandoned its effort to buy AIA amid shareholder opposition to the terms of the deal. Prudential originally agreed to pay $35.5 billion for the Asian unit of AIG but was forced to cut that offer to about $30 billion after pressure from shareholders. AIG then rejected the lower bid.

Mr. Tucker will replace Mark Wilson, who is expected to remain with AIA until the end of the year.

Mr. Tucker, a New Zealand native and former trainee professional soccer player in the English league, had a 25-year career at Prudential, including a stint as CEO of Prudential Corp. Asia.

 



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