Prudential: Tucker’s luck

Jonathan Bloomer was a lame-duck chief executive at Prudential ever since he shocked shareholders with a £1bn rights issue in October 2004. The fundraising was designed to enable the UK insurer to harness a revival in its domestic market. But it came only months after Bloomer had hailed the strength of the group’s capital position. It was a u-turn too far for many investors, who felt Bloomer had sprung enough surprises on them already. Now he has paid for the blunder with his job. Sir David Cle...