British asset manager M&G has named Joseph Pinto as the new CEO of its asset management unit.

Pinto will replace Jonathan Daniels, who is set to retire from the firm after a period of 21 years.

After joining M&G in March this year, Pinto will also be a part of the company’s executive committee.

He will report to M&G group chief executive Andrea Rossi.

In his new role, Pinto will be responsible for the company’s investment operations such as equity, fixed income, multi asset, private and alternative asset plans.

He will also look after distribution, operations and proposition management of M&G Asset Management.

Before the latest appointment, Pinto worked at Natixis Investment Managers as a head of distribution and investment solutions for EMEA, APAC and LATAM. He was also the global chief operating officer at the firm.

With a background of 30 years in asset management, financial services, and consulting sectors, Pinto earlier also worked with AXA Investment Managers.

Rossi said: “M&G’s purpose is to help people manage and grow their savings and investments responsibly. Joseph brings to M&G a profound understanding of client needs and how they have evolved through changing economic conditions.

“He has a strong record of delivering on strategic ambitions in investment management, and I am confident his combination of commercial vision and pragmatic leadership will help transform how M&G delivers value to its clients and other stakeholders.”

Earlier this month, M&G announced the appointments of two portfolio managers to expand its thematic equity investment capabilities in the US.