Buy-out specialist approached over Prudential - papers 11 Feb

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Mark Wood, the chief executive and founder of pensions buy-out specialist Paternoster, has been approached by banks drawing up plans to break up insurance giant Prudential, reports The Telegraph .

It is understood Mr Wood - previously chief executive of Prudential UK and Europe - has been asked if he would be interested in running the UK division if the investment banks are successful in splitting up the £15bn company. Sources said one scenario would see the division run as a separately quoted company, and tentative conversations had been held with Mr Wood in the past few weeks. It is unclear how this would impact on his role at Paternoster. It is rumoured that Goldman Sachs could be one of the banks involved. It is a broker to Prudential but has not been mandated by the company to...

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