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Pru's Thiam set to join SocGen board

Prudential chief executive Tidjane Thiam looks set to join the board of Societe Generale, France's second-largest bank.

Thiam is to become a non-executive director of the Paris-based lender for a four-year term, subject to the approval of the French bank's shareholders at the 25 May annual shareholders' meeting.

Details of the salary he would receive have not yet been disclosed.

Thiam, who has both French and Ivory Coast nationality, is currently trying to persuade Prudential's big investors to back a deal to buy AIG's Asian businesses.

The life insurer's share price slumped in early March on news of the $35.5bn deal and a $20bn rights issue to help pay for it.

Societe Generale is one of 30 banks underwriting the rights issue.

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