Anne Richards, chief investment officer at Aberdeen Asset Management, is to leave the fund manager this year to become chief executive of M&G Investments.
Aberdeen said Richards’ role as head of its Solutions business – covering multi-asset, alternatives and quantitative investment capabilities – will be taken over by Andrew McCaffery, currently global head of alternatives.
Richards joined Aberdeen when it acquired Edinburgh Fund Managers in 2003. She was appointed to the board in 2011 and, as well as her role as chief investment officer, has been responsible for operations in Europe, the Middle East and Africa.
She said: “It has been an honour for me to have been part of the success of Aberdeen Asset Management since 2003. This is a great company staffed by great people and, while I have decided it is the right time for me to pursue new opportunities, I’d like to offer Martin, the team and the company my very best wishes.”
Aberdeen chief executive Martin Gilbert, who was last week named deputy chairman of satellite broadcaster Sky, added: “Anne has been an exceptional contributor to Aberdeen throughout her many years with the company. 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. While we are sorry to lose Anne we are also delighted that one of our colleagues should have been appointed to such an important role in the industry. Her appointment reflects well on Aberdeen and on the wealth of talent we have working at the company.”
Richards succeeds Michael McLintock as chief executive of M&G, which is owned by insurance giant Prudential.
McLintock said: “I am absolutely delighted to be handing the reins to Anne. I have loved running M&G, but after 19 years I feel strongly that it’s time for a change.”