Anne Richards leaves M&G for Fidelity

Anne Richards has resigned as chief executive of M&G Investments ahead of the asset manager’s demerger from Prudential to become chief executive of Fidelity International.

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Anne Richards


Richards will leave on 10 August, following the group’s half year results to take up the new role, a regulatory filing published this morning said.

She will join Fidelity International in December and report to Abigail P Johnson, the US-based chairman of the company.

In a statement issued from Fidelity International, Richards said: “This is an exciting opportunity to lead an international company as it moves into the next stage of its growth plans. Fidelity is an admired global brand with the potential to lead the market as individuals recognise the need to take ever-greater control over their financial security.”

Richards has 26 years’ experience in the industry. She joined M&G Investments from Aberdeen Asset Management in February 2016, replacing Michael McLintock.

She was appointed chair of the UK Financial Conduct Authority’s practitioner panel in 2017 and is a member of the US-based Board of Leaders of 2020 Women on Boards, which works to increase the proportion of women on corporate boards.

Johnson said Richards joins at an important time in Fidelity’s history.

“Our ambitions to broaden and deepen our relationship with our clients; innovate in product development and solutions design; and to continue to develop our investment platform and workplace investing businesses have never been greater. I am very confident in Anne’s abilities to lead the company in this exciting period of future development and growth,” she said.

Changes at M&G

M&G Prudential chief executive John Foley will take on the responsibilities following Richards’ exit.

Clare Bousfield, currently chief executive officer of Prudential UK, will become chief financial officer of M&G Prudential.

Foley said: “These changes simplify the way we make decisions, improve accountability and align management capabilities with M&G Prudential’s future needs as an independent listed business.”

Prudential announced it was merging its M&G and UK savings businesses in August 2017, creating a business with £332bn in assets under management.

“I would like to thank Anne for her important contribution to M&G during a period of significant change. She leaves the business well positioned, with great performance for clients, strong positive asset flows and profitable growth for shareholders.”

Regarding Bousfield’s appointment, he said: “This is a crucial position combining financial control, strategy and managing relationships with the financial markets.”

Bousfield joined Prudential in November 2016 from Aegon UK, where she had been chief financial officer.

She said: “We have been making strides in modernising the business, building on our strengths in investment management and innovative propositions to provide clients with an even better and broader range of distinctive solutions to meet their financial needs.”



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