Clementi is the new man from the Pru.Byline: Megan Davies DAVID Clementi Sir David Cecil Clementi, born February 25, 1949, is Chairman of Prudential plc, one of Britain's largest insurance companies. His father, Cresswell Clementi, was an Air Vice-Marshal in the Royal Air Force. His grandfather was Governor of Hong Kong. , former deputy governor of the Bank of England The Governor of the Bank of England is the most senior position in the Bank of England. It is nominally a civil service post, but the appointment tends to be from within the Bank, with the incumbent grooming his or her successor. , is to take over as chairman of insurance giant Prudential. He is succeeding Sir Roger Hurn, who announced he was stepping down in April. Sir Roger was also chairman of struggling telecoms firm Marconi. News of the appointment leaked out last week when 53-year-old Mr Clementi departed his post at the Bank, although the role was at the time unconfirmed by Prudential. A spokeswoman for Prudential would not comment on how much the new chairman would be paid. His predecessor's salary was pounds 300,000. Mr Clementi, who is married with two children, said: ``I am delighted to be joining Prudential. The company is a leading international financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. group and I am very much looking forward to contributing to its continued growth and development.'' Sir Roger said: ``I am delighted that David Clementi has agreed to succeed me as chairman. Prudential is an outstanding company and I am confident that David's wealth of experience, combined with the excellent leadership of (chief executive) Jonathan Bloomer, will provide a uniquely qualified team for the future.'' Mr Clementi has plenty of City experience. He was deputy governor at the Bank for five years, prior to which he was an investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. at Kleinwort Benson, working up to chief executive in January, 1994. He joins at a tough time for Prudential. The UK's second-largest life assurer has, like the rest of the industry, been hit by the slides in stock markets. Yesterday Prudential heaped bad news on investors as it said it was cutting the pay-outs for withprofits pensions and bonds investors by up to 10pc - a move which could potentially affect about two million people. CAPTION(S): Business desk 0151-472 2585 Internet: icliverpool.co.uk |
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