Prudential eyes Wigley for top role
Bob Wigley, the veteran banker who is leading Boris Johnson’s review of the City, is in line to become the new chairman of the Prudential.
Wigley, who currently serves as head of Merrill Lynch’s European operations, is on a shortlist of candidates to run Britain’s second largest insurance group.
Prudential’s interest will fuel speculation that Wigley is to step down as the chairman of Merrill Lynch in Europe, the Middle East and Africa.
Any signal that he intends to hold senior positions at both Prudential and Merrill Lynch would raise eyebrows, even though the two companies are not in competition.
Wigley serves as a director of the Court of the Bank of England and is a member of the council of ‘Wise Men’ who advise the Chancellor Alistair Darling on policy relating to the City.
His job at Merrill Lynch has been the subject of speculation recently, amid rumours that the bank was to create a new senior role with executive responsibility for Europe.
But sources close to the US bank said the new position is unlikely to materialise.
The Prudential’s shortlist also included Sir Win Bischoff, until he accepted the role of chairman at US banking giant Citigroup in December 2007.
Prudential, whose current chairman David Clementi is expected to step down next year, declined to comment.