Ex-FSA chairman Davies joins Prudential board

Sir Howard was chairman of the FSA between 1997 and 2003. At Prudential he will also head up the group's new risk committee, which is still in the stages of being set up. Sir Howard will be paid £116,500 a year, the insurer told newswires. News of Sir Howard's appointment confirms reports earlier this month that Prudential was seeking to strengthen its board in the wake of its failed bid for AIA, the Asian business of US insurer AIG. The debacle led to investor criticism over its handling of the deal, with Pru chief executive Tidjane Thiam reportedly facing calls to quit. ...