Big move for City figure

Richards leaves Aberdeen for top role at M&G

Anne RichardsAnne Richards is leaving her post as chief investment officer at Aberdeen Asset Management to become chief executive of M&G Investments, the UK and European asset management arm of Prudential.

She will succeed Michael McLintock who is retiring.

Ms Richards, who has been with Aberdeen since it acquired Edinburgh Fund Managers in 2003, is a familiar contributor on City affairs to radio business bulletins.

Her role as head of Aberdeen’s solutions business (covering multi-asset, alternatives and quantitative investment capabilities) will be taken by Andrew McCaffery, currently global head of alternatives.

Mr McCaffery will report to Hugh Young who already heads up the group’s equities, fixed income and property businesses.

Andrew Laing, deputy chief executive, will take over responsibility for the group’s operations in Europe, the Middle East and Africa.

Ms Richards joined the board in 2011 and, as well as her current role she has been responsible for operations in Europe, the Middle East and Africa.

Martin Gilbert, chief executive, said: “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.”

Ms Richards, who also held senior roles at JP Morgan Investment Management and Mercury Asset Management, commented: “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.”

Mike Wells, group chief executive of Prudential, 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 wish him all the very best for the future.

I am delighted that a person of Anne’s talent is joining the group and I look forward to working with her. Anne will be able to deploy her leadership skills and exceptional knowledge of the global asset management industry to provide the best possible outcomes for our customers, clients and shareholders.”

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