MARK WOOD, the former UK chief executive of Prudential, has convinced former FSA chairman Sir Howard Davies to join the board of his new insurance company, The Times says this morning.
The role is Davies' first City post since resigning as chairman of the Financial Services Authority (FSA) in September 2003. Investors were told of the appointment yesterday afternoon, after Davies had spent the previous two months unofficially advising Wood on how to get the go-ahead from the City watchdog for his new company. It will be the first new life insurance company to be set up in Britain in at least 25 years. The team has been working from the offices of Numis, the stockbroker which provided initial funding for the venture. Wood quit Prudential last year after being beaten ...
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