[ by Melanie Gretchen ] Prudential Plc, the U.K.’s biggest insurer by market value, has named a new chairman to replace Harvey McGrath, who oversaw the company’s failed $35.5 billion bid for AIA Group Ltd. 2 years ago.  Paul Manduca led the search for a chairman in his role as senior independent director, until he was asked to become a candidate, the company said.  He will begin 7/2/12. Prior to joining Prudential, Mr. Manduca, 60, was CEO of Deutsche Bank AG’s European asset management unit from 2002 to 2005.  Among his accomplishments, Mr. Manduca founded Threadneedle Asset Management Ltd.    [Bloomberg, 5/28/12]