Aberdeen Asset Management chief investment officer Anne Richards is to take over as chief executive of M&G later this year.
Ms Richards has been with Aberdeen for 13 years, having joined the firm when it took over Edinburgh Fund Managers.
She will replace Michael McLintock, who will retire from M&G and as an executive director of parent firm Prudential. Mr McLintock has led the firm for 19 years.
At Aberdeen, Ms Richards’ responsibilities as head of company solutions for multi-asset, alternatives and quantitative investments will be taken over by Andrew McCaffery, currently global head of alternatives.
He will report to Hugh Young, who heads up Aberdeen’s equities, fixed income and property divisions.
Aberdeen deputy chief executive Andrew Laing will take over Ms Richard’s responsibilities in Europe, Middle East and Africa.
Aberdeen chief executive Martin Gilbert said: “Anne has been an exceptional contributor to Aberdeen throughout her many years.
“Her outstanding knowledge of the asset management industry and her proven abilities as a leader have played a key part in the growth of our business over the last 13 years. I would like to thank her for everything she has done for the company and wish her the very best for the future,” he added.
Prudential chief executive Mike Well said: “I would like to thank Michael for his exceptional contribution to M&G over the last two decades. Under his leadership M&G has grown to become one of Europe’s largest fund managers by offering innovative investment solutions to meet the needs of our customers and clients.
“I am delighted that a person of Anne’s talent is joining, and I look forward to working with her.”
