M&G, the savings and investment business, has appointed Clive Bolton as chief executive of its life insurance, division.

The announcement follows the recent hiring of Caroline Connellan as the new CEO of M&G Wealth. 

The appointments follow the departure of Clare Bousfield, CEO of Retail & Savings, whose job was split into two posts.

David Montgomery, the Scotland-based managing director of M&G Wealth, resigned after being overlooked for a promotion.

Mr Bolton will be responsible for developing and growing the range of Pru Fund products available across the UK and Europe, as well as the five million customers of our Heritage business.

He spent over a decade at Aviva Life UK, including five years as managing director of retirement solutions.  He joins from LV= where he is currently managing director of protection, savings & retirement. 

He joins in September and will become a member of M&G’s group executive committee, reporting to group chief executive Andrea Rossi.