Tidjane Thiam bid for AIA, the Asian wing of the crisis-stricken AIG. A public battle ensued, with some investors complaining about the $35.5 billion price Prudential was offering to pay. The bid eventually failed, after the AIG board rejected a revised lower bid. AIA was later floated on the Hong Kong Stock Exchange, and the value of the company quickly rose above Prudential’s original bid price. Thiam came under strong personal criticism following the failure of the bid, partly as a result of the costs incurred by the company in pursuing the bid. However, he was re-elected as CEO at the May
Latitude Financial Services of the American multinational conglomerate General Electric. In 2015, GE Capital sold its Australian and New Zealand business to a consortium led by Deutsche Bank, Kohlberg Kravis Roberts, and Värde Partners. The business was renamed Latitude Financial Services with Sean Morrissey appointed as its new CEO. Latitude Financial Services Latitude Financial Services (abbreviated Latitude Financial or Latitude) is an Australian financial services company with headquarters in Melbourne, Victoria, also doing business in New Zealand under the name Gem Finance. The company’s core business is in consumer finance through a variety of services including unsecured personal loans, credit cards, car loans,