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 Authority but it was for the FSA to decide what shape the regulatory regime should take in relation to any particular activities. The FSA was also provided with advice on the interests and concerns of consumers by the Financial Services Consumer Panel. This panel described itself as "An Independent Voice for Consumers of Financial Services". Members of the panel were appointed and could be dismissed by the FSA and emails to them were directed to FSA staff. The Financial Services Consumer Panel did not address individual consumer complaints. The FSA was governed by a Board appointed by HM Treasury. The members