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Prudential names UK chief to head Asia integration

Rob Devey will lead operations following takeover of AIA.

The Prudential UK and Europe chief executive has been appointed to lead the integration of its business operations in Asia following the company's £23bn takeover of AIA.

The deal, which has yet to be agreed to by its shareholders, will turn Prudential into the biggest overseas insurer in Asia and see a significant increase in its workforce. Prudential's buyout of AIA will add 300,000 employees and the insurer will have to hire a further 300,000 workers to reach the million mark.

Devey's appointment has raised questions over the future of Barry Stowe, the incumbent chief executive of Prudential Corporation Asia. Prudential said the appointment would free Stowe to concentrate on driving forward AIA's businesses.

Devey, 41, joined the Asian company in November and is seen as an expert at integration. He was responsible for integrating the banking operations of Halifax with the Bank of Scotland when they merged to form HBoS.