Business Services Industry
Prudential Could Set Up Asia Headquarters.
Knight Ridder/Tribune Business News, December, 2003
By Miles Costello, Daily Mail, London Knight Ridder/Tribune Business News
Dec. 4--The Prudential is building up its business in Asia and may even consider moving its corporate headquarters there eventually.
Insiders say the insurance giant is unlikely to abandon its British roots in the foreseeable future, but chief executive Jonathan Bloomer is particularly interested in China, one of the world's fastest growing economies. The Chinese market last year accounted for 40 percent of the group's overall new business profits.
Sales at Pru's Asian arm have grown nearly sixfold since 1998 to more than UKpound 513 million at the end of 2002.
Bloomer is mulling a regional headquarters in Kuala Lumpur to cover Chinese-speaking regions...
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