Prudential names Ian Kerr CEO of Egg

Prudential names Ian Kerr CEO of Egg

UK insurance group Prudential has appointed HBOS retail banking head Ian Kerr as chief executive of its Internet banking operation Egg.

Kerr will replace Mark Nancarrow who has quit the Internet bank to join Thomas Cook Financial Services.

Kerr, who will join Prudential in November 2006, was previously chief executive, retail banking for HBOS, a position he held since 2004.

He was named director of group programmes at HBOS following the merger of Bank of Scotland and Halifax in September 2001.

Kerr was previously chief executive of Birmingham Midshires Building Society when the group was acquired by Halifax in 1999. He had been with the building society since 1989.

Commenting on the appointment Nick Prettejohn, chief executive, Prudential UK, says Kerr is well-suited to lead the business through its next stage of development and help deliver the integration between Egg and Prudential's insurance business.

Kerr will replace Nancarrow who was appointed CEO of Egg in February following the departure of Paul Gratton who stepped down from the UK Internet bank after Prudential bought out minority shareholders and delisted the unit.

Nancharrow has now also quit the Web bank to become managing director of Thomas Cook's financial services arm. The tourism firm is currently expanding its financial services business and formed a 50/50 joint venture with Barclays Bank last month to provide branded credit cards and other products to its customers.

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