Aberdeen Asset Chief Investment Officer to Join Prudential Unit -- Update

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By Tapan Panchal

LONDON--Aberdeen Asset Management PLC (ADN.LN) said Monday Chief Investment Officer Anne Richards will leave the company later this year to assume the role of chief executive at M&G Investments, the asset management arm of Prudential PLC (PRU.LN).

Ms. Richards joined Aberdeen when it acquired Edinburgh Fund Managers in 2003. She joined the company's board in 2011 and, along with her role as chief investment officer, has been responsible for operations in Europe, the Middle East and Africa.

The wealth manager said Ms. Richards' role as head of the company's solutions business will be taken over by Andrew McCaffery, who currently serves as global head of alternatives business. Andrew Laing, Aberdeen's deputy chief executive, will take over the responsibility for the company's operations in Europe, the Middle East and Africa.

Separately, Prudential said that Michael McLintock will retire as CEO of M&G Investments and as an executive director of Prudential. Mr. McLintock was appointed CEO of M&G in 1997 and oversaw its acquisition by Prudential in 1999.

Shares of Aberdeen Asset Management at 0846 GMT were trading 0.5% lower at 245 pence each. Prudential shares traded 1.3% lower at 1,350 pence.

-Write to Tapan Panchal at [e-mail]

(END) Dow Jones Newswires

February 01, 2016 04:07 ET (09:07 GMT)

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