Prudential

Prudential is closing its money market Maximum Income Trust next month after large investors planned to redeem their holdings.

Prudential boss Tidjane Thiam is due to earn a pay package worth up to £5.2m this year as he spearheads the biggest takeover in the insurer's history.

The FTSE 100 opened higher Tuesday, tracking strength overnight on Wall Street, as Legal & General (L&G) beat profit forecasts and lifted its final dividend payout by a third.

Prudential chief executive Tidjane Thiam will not be joining SocGen as a non-executive director amid strong shareholder anger at the proposed move.

The Prudential chief executive Tidjane Thiam was under fire from shareholders last night after taking on a second high-profile job while trying to steer the insurer through a record takeover deal.

Prudential rushed last night to complete a Hong Kong listing for its shares amid doubts investors would approve its record $35.5bn acquisition of AIA, the Asian division of American International Group (AIG).

Prudential has applied to have its shares listed on the Hong Kong Stock Exchange as part of its plan to buy AIG's Asian assets.

The FTSE 100 edged past the 5,600 mark in early trading Monday, helped in part by a 2% gain for Prudential which has accelerated its plans for a listing on the Hong Kong Stock Exchange.

The City's leading investment banks are falling over themselves to get a slice of the $700m in fees on offer from Prudential's record $21bn rights issue.

Standard & Poor's is considering cutting its rating on Prudential over leverage concerns following its $35.5bn deal to buy AIG's Asian business.