M&G Investments poaches Aberdeen's Richards as new chief executive

Prudential has wooed Aberdeen Asset Management’s chief investment officer Anne Richards to take over leading M&G Investments.

The FTSE 100 company announced on Monday that Michael McLintock has decided to retire as chief executive of its subsidiary.

Richards is currently responsible for operations in Europe, the Middle East and Africa at Aberdeen Asset Management, and has previously held senior roles at JP Morgan Investment Management, Mercury Asset Management and Edinburgh Fund Manager.

"I am delighted that a person of Anne's talent is joining the group,” said Prudential group chief executive Mike Wells.

"Anne will be able to deploy her leadership skillsand exceptional knowledge of the global asset management industry to provide the best possible outcomes for our customers, clients and shareholders."

Wells also thanked McLintock for his “exceptional contribution” 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.”

McLintock said he was delighted to be handing the reins to Richards.

“I have loved running M&G, but after 19 years I feel strongly that it's time for a change. M&G is a special business.”

Richards will join the company later in the year, subject to regulatory approval.