Fidelity and LGIM demand Pru talks

Fidelity and LGIM, both large shareholders in Prudential, are among a number of asset managers set for showdown talks with the insurer's directors next week.

Both Fidelity and Legal & General Investment Management, along with Schroders, have arranged meetings with either Pru chairman Harvey McGrath or senior independent director James Ross, to express their anger at the handling of the company's proposed $35.5bn takeover of AIA, Sky News reports. The groups want an immediate recruitment process launched to replace for Pru CEO Tidjane Thiam, Sky understands. Schroders head of equities Richard Buxton has already called for the removal of the CEO, saying it is "difficult to absolve Tidjane Thiam from responsibility". Pru has thus far resis...