Bloomberg News

Goldman Sachs Adds AIA Group CEO Tucker to Board of Directors

November 05, 2012

Goldman Sachs Group Inc. (GS:US), the fifth- biggest U.S. bank by assets, expanded its board of directors to 12 members by adding Mark Edward Tucker, the chief executive officer and president of AIA Group Ltd. (1299)

Tucker, 54, will become Goldman Sachs’s 10th independent board member and will join all of the board’s committees, the New York-based firm said today in a statement.

“With his nearly three decades of leadership in the insurance and banking sectors, Mark has a proven understanding of effective risk management,” Lloyd C. Blankfein, 58, Goldman Sachs’s chairman and CEO, said in the statement.

Tucker was group chief executive at Prudential Plc (PRU) before becoming CEO and president of Hong Kong-based AIA, the third- largest Asia-based insurer. From 2009 until this year he was a non-executive director of the so-called Court of the Bank of England, which provides the central bank with non-monetary advice, and a member of its financial stability committee and audit and risk committee, according to the statement.

Goldman Sachs last month named Adebayo “Bayo” Ogunlesi, managing partner and chairman of Global Infrastructure Partners, as an independent board member. The investment bank said in September that Chief Financial Officer David A. Viniar will retire at the end of January and join the board as a non- independent member.

AIA was sold by American International Group Inc. (AIG:US) in a $20.5 billion public offering in October 2010 that was the world’s third-largest at the time. Goldman Sachs was one of the banks involved in managing the offering.

British-born Tucker, who was a professional soccer player in his youth, was a mentor to Tidjane Thiam and handed Thiam the CEO job at Prudential in 2009.

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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Companies Mentioned

  • GS
    (Goldman Sachs Group Inc/The)
    • $165.02 USD
    • 1.60
    • 0.97%
  • AIG
    (American International Group Inc)
    • $54.55 USD
    • 0.07
    • 0.13%
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