M&G Investments, the fund arm of insurer Prudential, has named Aberdeen Asset Management’s CIO Anne Richards as its new CEO, subject to regulatory approval.
Richards, who will be replacing Michael McLintock, will also join Prudential’s board as an executive director. McLintock is set to retire from the firm after a spell of 19 years.
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Richards, who is currently responsible for operations in Europe, the Middle East and Africa at Aberdeen Asset Management, previously held senior roles at JP Morgan Investment Management, Mercury Asset Management and Edinburgh Fund Managers.
Prudential Group CEO Mike Wells said: "Anne will be able to deploy her leadership skills and exceptional knowledge of the global asset management industry to provide the best possible outcomes for our customers, clients and shareholders."
Anne Richards said: "I am delighted that I have the opportunity to lead M&G, which is a world-class business. I look forward to working with the team to continue building the business and leading the next phase of M&G’s development."
Prudential chairman Paul Manduca said: "I look forward to working with Anne when she joins the Board. I am pleased that we are able to attract the very best talent from across the industry, demonstrating the quality of our succession planning. Anne’s achievements and experience make her the right candidate to continue M&G’s development."
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By GlobalDataAndrew McCaffery, currently global head of alternatives, will assume Richards’s role as head of the Aberdeen’s solutions business. He will report to Hugh Young, who already manages the Group’s equities, fixed income and property businesses.
Andrew Laing, the group’s deputy chief executive, will assume responsibility for the operations in EMEA, Aberdeen said in a statement.
