>>> Prudential lines up Just Eat boss to spearhead demerger of M

Prudential lines up Just Eat boss to spearhead demerger of M&G

Just Eat [LON:JE] Chairman Mike Evans is in contention to chair insurer Prudential’s [LON:PRU] M&G Prudential business prior to the planned demerger of the UK-based asset-management arm in 2020, Sky News reported. Evans, formerly chair of Hargreaves Lansdown [LON:HL], is considered to have the right experience to manage the GBP 45bn (USD 57bn) break-up, which was announced earlier this year, the report said.

According to City sources cited in the piece, Paul Manduca, chairman of Prudential, expects to announce M&G Prudential’s board composition in the autumn. Appointments to the separately listed business will first have to be approved by insurance regulators and the City, the report said.

It is not known if rival candidates for the M&G chairmanship are under consideration, the item reported.

The report noted recent speculation that Lloyds Banking Group [LON:LLOY] might be weighing a takeover of the M&G Prudential business. China-based insurance group Ping An [SHA:601318] has also been tipped as a possible acquirer, the item stated.