1st Feb 2016 09:38
LONDON (Alliance News) - Prudential PLC on Monday said the chief executive of its M&G Investments fund management arm is to retire from his role and said it has poached the chief investment officer of Aberdeen Asset Management PLC to replace him.
Michael McLintock will retire as the chief executive of M&G and as an executive director of the FTSE 100-listed life insurer later this year, though no exact date was given for his departure, after 19 years with the company.
He will be replaced by Anne Richards, currently the chief investment officer and head of Aberdeen's European, Middle East and African operations. She joined Aberdeen in 2003 after her former employer, Edinburgh Fund Managers, was acquired by the company.
Andrew McCaffery, the global head of alternatives at Aberdeen, will replace Richards as head of its Solutions division, while Andrew Laing, deputy chief executive, will take over the Europe, Middle East and Africa operations.
Prudential shares were down 3.2% to 1,323.50 pence on Monday, while Aberdeen shares were down 0.5% to 245.30p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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