July 27, 2018 / 11:18 AM / a year ago

MOVES-M&G Prudential's chief leaves for Fidelity International

(Adds appointment by Fidelity)

July 27 (Reuters) - Fidelity International said on Friday that Anne Richards, the outgoing boss of M&G Prudential, had been appointed its chief executive officer.

Richards will be replacing Brian Conroy at Fidelity, who held the role of President before he left in February to return to U.S.-based Fidelity Investments, a spokeswoman told Reuters on Friday.

In her new role, she will be tasked with product development, design and growth of Fidelity’s investment platform and Workplace Investing businesses.

M&G Prudential, formed through the marriage of M&G Investments and Prudential’s UK & Europe life business, confirmed in a separate statement that Richards was stepping down.

Richards, who has 26 years of asset management experience, did not respond immediately to a request for comment on LinkedIn. She worked at M&G for over 2 years and Aberdeen Asset Management before that.

Richards’ departure from M&G Prudential comes at a time of other changes at the firm in preparation for its planned demerger from Prudential.

Clare Bousfield, currently CEO of Prudential UK, will become CFO of M&G Prudential.

M&G Prudential’s CEO John Foley would take on the additional responsibilities of heading the key regulated entities of M&G and Prudential UK, the company said.

Fidelity International managed $430.7 billion in assets at the end of March. ($1 = 0.7636 pounds) (Reporting by Noor Zainab Hussain in Bengaluru and Maiya Keidan in London; editing by Carolyn Cohn and Elaine Hardcastle)

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