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
Financial Services and Markets Tribunal Financial Services and Markets Tribunal The UK Financial Services and Markets Tribunal was an independent judicial body established under Section 132 of the Financial Services and Markets Act 2000, which heard references arising from decision notices issued by the Financial Services Authority (FSA). In April 2010 the Tribunal was abolished and its functions transferred to the Upper Tribunal. Examples of such decisions which the Tribunal could review included: There were 8 legally qualified chairmen (including Stephen Oliver QC, the President), and 19 lay members with special experience of the financial sector, all appointed by the Lord Chancellor. Appeal against decisions