LONDON: Britain's insurance company Prudential Plc. has appointed Ian Kerr as chief executive of its internet banking business Egg. Kerr, 51, headed the retail banking at Halifax Bank of Scotland (HBOS) and he is expected to take up the assignment in November.
Egg's current chief executive officer Mark Nancarrow is leaving the firm to join Thomas Cook. He had took over the reins in Egg after Prudential bought out minority shareholders and delisted the unit in February.
Prudential's chief executive Nick Prettejohn said in a statement, "Ian's background and experience mean that he is very well-suited to lead the business through its next stage of development and help deliver the integration between Egg and our UK insurance business."
Kerr became group services director at HBOS in 2001, before being promoted as chief executive of retail banking in 2004. Before his stint in HBOS, he was chief executive of Birmingham Midshires.
Kerr said he is delighted to be joining Prudential at this exciting time in the group's development, and looked forward to take on the challenge of driving the unit to profitable growth while exploiting its significant value as part of Prudential's broader customer and distribution strategy.
