Prudential's Chairman, CEO Face the Fury of Annoyed Shareholders

Prudential's Chairman, CEO Face the Fury of Annoyed ShareholdersThe anticipated criticism duly arrived and the Prudential's best team unsurprisingly struck back every assault on their tactic and their honesty.

In sites similar to the torrent of criticism intended at the Directors of RBS and Lloyds Banking Group, the investors gave Prudential's Chairman, Harvey McGrath, and Chief Executive, Tidjane Thiam, a nice jerking over the failed Asian growth and the £450 million splurged on fees.

But the duo stood firm, took in every figurative tomato and egg lashed out at them and expressed regret, banker style, for muddling up.

At least they haven't done the transaction that some believed would loosen the group, banker style.

According to the Prudential's critics, purchasing AIG's Asian business for £35 billion (£24bn) would have been a costly idiocy.

But whilst McGrath acknowledged that blunders had been made, he sustained that purchasing into Asia continued to be the right strategy. It has been hard at times to detach disapproval of the deal itself from criticism of how they went about it.

In some views, this was more about wayward tactics than a devious strategy.

With yesterday's AGM off the beaten track, McGrath and Thiam will get face-to-face with the institutional shareholders in private conferences to discuss about the way ahead.