Sir Nigel Rudd in running to head Prudential

Sir Nigel Rudd, the former Citigroup banker, is in the running to become the next chairman of Prudential.

Sir Nigel, 65, is understood to be the favourite to lead Britain's biggest insurer, ahead of Glen Moreno, the 68-year old Pearson chairman, according to the Daily Telegraph. Prudential is looking to fill the vacancy after Harvey McGrath opted to step down following a shareholder backlash over the failed AIA deal. The Prudential hierarchy was heavily criticised for the way it handled the bid, with McGrath one of the biggest casualties of the aborted takeover. Sir Nigel - who boasts an extensive background of executive posts in manufacturing and financial services - is seen as an ide...