Donnelly is to join M&G in February as chief compliance officer.
A lawyer by training, he has 16 years’ experience in compliance after being first called to the Irish Bar in 1994. He has managed teams across the UK, Europe and Asia and has held roles with KPMG and legal firm Norton Rose.
Anne Richards, chief executive of M&G Investments, said: “Neil has an excellent reputation and international experience – we look forward to welcoming him to M&G in February. Neil joins at a particularly important time when the political and regulatory landscape is going through substantial change.”
Pioneer has also reportedly suspended two of its fixed income specialists. The firm took action against head of European fixed income Tanguy Le Saout and head of portfolio construction Ali Chabaane due to a belief they had begun efforts to set up a separate business.
Pioneer owner Unicredit is in talks to sell the business, with French asset manager Amundi believed to be the likeliest buyer.
