The failure of the AIA bid has now led to the resignation of Prudential Chairman, Harvey McGrath and he may be replaced by Lord Myners. This lost bid exerted a lot of pressure on McGrath by Fidelity. There is a long list that is calling a step down for McGrath.

Fidelity, also a part of this list, is raising voice for the same cause. The Company owns a Prudential of 3%. There had been a time when Prudential had to desert a deal for the AIG's Asian business, worth £450 million. Since then, McGrath was on the brink of being replaced.

Till now, no official announcement has been made, but it is pondered that the City Minister, Lord Myners will be succeeding McGrath. Besides, Myners, Jim Schiro, the former Zurich Financial Services Chief Executive is also in the eyes of the officials, as an impending replacement.

The leading investment group, Fidelity International will be deciding this issue after a meeting with McGrath, along with several other crucial meetings with the main Board Directors and shareholders. Along with McGrath, Tidjane Thiam is also called upon for resignation, on the same grounds of charge.