M&G Investments chief departs for CEO role at Fidelity International

M&G Investments reshuffles senior management as Anne Richards prepares to leave to becomes CEO at Fidelity International.

The chief executive at M&G Investments is set to depart next month to take up the same role at Fidelity International in December this year.

Asset management industry veteran Anne Richards will assume responsibility for all operations at Fidelity International by the end of the year, after just over two years’ as CEO at M&G Investments.

Richards’ career in asset management spans 26 years and she held various senior positions at major buy-side firms. She worked with Aberdeen Asset Management for more than 12 years as global chief investment officer after joining the company in 2003, and she has also spent more than two decades in various analyst and portfolio manager positions.

She will report to Fidelity International’s chairman, Abigail Johnson, who commented: “Anne will assume responsibility for Fidelity International at an important time in its near-50 year history.

“Our ambitions to broaden and deepen our relationship with our clients; innovate in product development and solutions design; and to continue to develop our investment platform and workplace investing businesses have never been greater.”

M&G Investments confirmed Richards’ decision to leave and announced several changes to its leadership team ahead of her departure and its demerger from Prudential which was formed in 2017.

Richards will step down as CEO at M&G Investments as of 10 August, with John Foley, CEO of M&G Prudential, set to take on her responsibilities. Prudential UK’s CEO, Clare Bousfield, has also been appointed chief financial officer of M&G Prudential as part of the reshuffle.

“These changes simplify the way we make decisions, improve accountability and align management capabilities with M&G Prudential’s future needs as an independent listed business,” Foley said.

“I would like to thank Anne for her important contribution to M&G during a period of significant change. She leaves the business well positioned, with great performance for clients, strong positive asset flows and profitable growth for shareholders.”

On her new role at Fidelity International, Richards added that she looks forward to join the asset manager as it moves forward into the next stage of its growth plans.

“Fidelity is an admired global brand with the potential to lead the market as individuals recognise the need to take ever-greater control over their financial security,” she said.