Financial Services
AIG Names Tucker as New Head of Asia Unit
Stock quotes in this article:AIG
Updated from Sunday, July 18
NEW YORK (TheStreet) -- American International Group(AIG) named Mark Tucker, former CEO of the U.K.'s Prudential (PUK), to lead its Asian life insurance business. Tucker takes over as head of American International Assurance from Mark Wilson, who has led the company since 2009. AIG has been selling assets to repay a $182.5 billion federal bailout. Britain's Prudential March agreed to buy AIA for $35.5 billion, but later wanted to negotiate a lower price after its shareholders balked. In June, Prudential called off the deal. Last week a media report said New York-based AIG is planning to take AIA public this fall and hopes to raise as much as $23 billion. AIG said in a statement Monday it would seek to list AIA on the Hong Kong stock exchange. Tucker is a director of the Bank of England, Britain's central bank. He is a former group head for Prudential PLC, which is not connected to insurance and investment company Prudential Financial (PRU) of New Jersey. > > Bull or Bear? Vote in Our PollTheStreet Premium Services
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